Guideline Value for VGN FAIRMONT

Vgn Fairmont guideline value

The current guideline value of Vgn Fairmont is Rs 9,500 per sq.ft, effective from 1 July 2024. This property is located in Alandur Guindy village, under the Alandur SRO, and is classified as Residential Special Type - I.

How the guideline value of Vgn Fairmont has changed

The guideline value for Vgn Fairmont has seen significant changes over the years. The 2017 revision recorded a value of Rs 5,762 per sq.ft, which increased to Rs 8,600 per sq.ft in the 2023 revision, marking a change of 49%. The latest revision in 2024 raised the guideline value to Rs 9,500 per sq.ft, reflecting a 10% increase 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 years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Alandur Guindy

Alandur Guindy has a range of guideline values across its streets, with the 2024 figures varying from Rs 3,900 to Rs 11,200 per sq.ft. The median value for the village is Rs 8,550 per sq.ft, and Vgn Fairmont's current guideline value is above this median.

• 100 Feet Road/ Inner Ring Road/ Jawaralal: Rs 11,200 per sq.ft (2024)
• SIDCO Thiru Vi Ka Industrial Estate: Rs 9,400 per sq.ft (2024)
• Reddy Street (Sidco Estate Residential Area): Rs 7,700 per sq.ft (2024)
• Parthasarathy Mandapam Lane: Rs 3,900 per sq.ft (2024)
• Parthasarathy Koil Street (Sidco Estate Residential Area): Rs 3,900 per sq.ft (2024)
• Labour Colony (Sidco Estate Residential Area): Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vgn Fairmont

For a 1,000 sq.ft plot at the current guideline value of Rs 9,500 per sq.ft, the total guideline value amounts to Rs 95,00,000. The stamp duty at 7% would be Rs 6,65,000, and the registration fee at 2% would be Rs 1,90,000, making the total Rs 8,55,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vgn Fairmont?

The Sub Registrar Office that covers Vgn Fairmont is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Alandur Guindy. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the government receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vgn Fairmont?

The current guideline value of Vgn Fairmont is Rs 9,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 65%, from Rs 5,762 per sq.ft to Rs 9,500 per sq.ft as of 2024.

What are the other guideline values in Alandur Guindy?

In Alandur Guindy, the guideline values range from Rs 3,900 to Rs 11,200 per sq.ft, with the median value being Rs 8,550 per sq.ft.

What fees are associated with buying property in Vgn Fairmont?

The fees associated with buying property in Vgn Fairmont include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vgn Fairmont?

The Sub Registrar Office for Vgn Fairmont is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.