Guideline Value for VGN AMITY

Vgn Amity guideline value

The current guideline value of Vgn Amity is Rs 1,540 per sq.ft, effective from 1 July 2024. This property is located in Melpakkam village under the Kunrathur SRO, classified as Mixed Type - I land.

How the guideline value of Vgn Amity has changed

The guideline value for Vgn Amity has undergone several revisions over the years. The 2012 revision set the value at Rs 1,400 per sq.ft, which was then reduced to Rs 938 per sq.ft in the 2017 revision. However, the value saw a significant increase to Rs 1,400 per sq.ft in the 2023 revision and further rose to Rs 1,540 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the current 2024 value, there has been a 10% increase. This reflects the fluctuations in the property valuation over the years.

Guideline values in Melpakkam

In Melpakkam, there are 17 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,105 per sq.ft. The median guideline value is Rs 1,540 per sq.ft, which is equal to the current value of Vgn Amity.

• Vgn Windsor Park Phase I: Rs 1,210 per sq.ft (2024)
• Vgn Windsor Park Phase II: Rs 1,210 per sq.ft (2024)
• Vgn Windsor Park Phase III: Rs 1,540 per sq.ft (2024)
• VGN WINDSOR PARK - Phase IV: Rs 2,460 per sq.ft (2024)
• Vgn Windsor Park Phase V: Rs 2,460 per sq.ft (2024)
• Vgn Windsor Park Phase - VI: Rs 2,460 per sq.ft (2024)

Stamp duty and registration fee for property in Vgn Amity

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vgn Amity?

The Vgn Amity property falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Melpakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vgn Amity?

The current guideline value of Vgn Amity is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,540 per sq.ft in 2024.

What is the land classification of Vgn Amity?

Vgn Amity is classified as Mixed Type - I land, which is a designation used for various types of land use.

Where can I find the registration office for Vgn Amity?

The registration office that covers Vgn Amity is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Melpakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 15,40,000, the stamp duty would be calculated accordingly.