Guideline Value for VGN CH 40 PHASE II

Vgn Ch 40 Phase II guideline value

The current guideline value for Vgn Ch 40 Phase II is Rs 12,700 per sq.ft. This property is located in Padi village under the Villivakkam SRO, classified as Commercial Special Type - III.

How the guideline value of Vgn Ch 40 Phase II has changed

The guideline value for Vgn Ch 40 Phase II has remained consistent across several revisions. The 2017 revision set the guideline value at Rs 12,700 per sq.ft, which was unchanged in the 2023 revision. The most recent 2024 revision also maintains this value at Rs 12,700 per sq.ft.

It is important to note that there are no figures available for this street in the revisions of 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has seen no change.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, placing Vgn Ch 40 Phase II above this median.

• Vgn Ch 40: Rs 11,000 per sq.ft (2024)
• Vellala Street: Rs 5,400 per sq.ft (2024)
• V.O.C.Nagar: Rs 3,400 per sq.ft (2024)
• W-Block "a" Sector: Rs 8,700 per sq.ft (2024)
• W-Block "b" Sector: Rs 8,700 per sq.ft (2024)
• W-Block "c" Sector: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vgn Ch 40 Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 12,700 per sq.ft, the total guideline value amounts to Rs 1,27,00,000. The stamp duty at 7% would be Rs 8,89,000, while the registration fee at 2% would be Rs 2,54,000, resulting in a total of Rs 11,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vgn Ch 40 Phase II?

The Sub Registrar Office that covers Vgn Ch 40 Phase II is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling a property.

When a property is registered, the guideline value is considered alongside 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 correct amount based on the property's value.

Frequently asked questions

What is the current guideline value for Vgn Ch 40 Phase II?

The current guideline value for Vgn Ch 40 Phase II is Rs 12,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Vgn Ch 40 Phase II has remained unchanged at Rs 12,700 per sq.ft since the 2017 revision, with no changes noted in the 2023 and 2024 revisions.

What is the land classification for Vgn Ch 40 Phase II?

Vgn Ch 40 Phase II is classified as Commercial Special Type - III according to the land classification records.

What is the registration office for properties in Vgn Ch 40 Phase II?

The registration office for properties in Vgn Ch 40 Phase II is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Vgn Ch 40 Phase II?

Stamp duty for properties in Vgn Ch 40 Phase II is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,27,00,000, the stamp duty would be Rs 8,89,000 at 7%.