Guideline Value for VGK GREEN CITY

Vgk Green City guideline value

The current guideline value of Vgk Green City is Rs 1,770 per sq.ft, effective from 1 July 2024. This property is located in Agaramthen village under the Tambaram Joint 1 SRO, classified as Residential Class III Type - I.

How the guideline value of Vgk Green City has changed

The guideline value for Vgk Green City has seen significant changes over the years. The earliest recorded figure is from the 2017 revision, which was Rs 1,072 per sq.ft. This figure increased to Rs 1,608 per sq.ft in the 2023 revision, marking a 50% rise. The most recent revision in 2024 shows a further increase to Rs 1,770 per sq.ft, which is a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Agaramthen

Agaramthen village has 125 streets under the Tambaram Joint 1 SRO with a 2024 guideline value range from Rs 440 to Rs 3,700 per sq.ft. The median guideline value for these streets is Rs 830 per sq.ft, placing Vgk Green City’s 2024 figure above this median.

• Vgk Green City Phase-II: Rs 1,770 per sq.ft (2024)
• Victory Farm Land: Rs 550 per sq.ft (2024)
• Veeramamunivar Street: Rs 830 per sq.ft (2024)
• V.O.C. Street: Rs 830 per sq.ft (2024)
• Valmiki Street: Rs 830 per sq.ft (2024)
• Vallalar Street: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Vgk Green City

For a 1,000 sq.ft plot at the current guideline value of Rs 1,770 per sq.ft, the total guideline value would be Rs 17,70,000. The stamp duty at 7% would amount to Rs 1,23,900, while the registration fee at 2% would be Rs 35,400, leading to a total of Rs 1,59,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vgk Green City?

The Sub Registrar Office that covers Vgk Green City is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Agaramthen

The guideline value is a crucial factor in the registration process when buying or selling property in Agaramthen. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the property's official value as per the guideline register.

Frequently asked questions

What is the current guideline value of Vgk Green City?

The current guideline value of Vgk Green City is Rs 1,770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,072 per sq.ft in 2017 to Rs 1,770 per sq.ft in 2024, marking a 65% overall increase. The most recent revision shows a 10% increase from the 2023 figure of Rs 1,608 per sq.ft.

What is the land classification for Vgk Green City?

Vgk Green City is classified as Residential Class III Type - I, indicating its designation for residential use within the area.

Where can I find the Sub Registrar Office for Vgk Green City?

The Sub Registrar Office for Vgk Green City is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 1,770 per sq.ft would incur a total stamp duty and registration fee of Rs 1,59,300.