Guideline Value for VGN KRONA PHASE-2

Vgn Krona Phase-2 guideline value

The current guideline value of Vgn Krona Phase-2 is Rs 2,860 per sq.ft, effective from 1 July 2024. This property is located in Kerugambakkam village under the Pammal SRO and is classified as Commercial Class I Type - I.

How the guideline value of Vgn Krona Phase-2 has changed

The guideline value for Vgn Krona Phase-2 has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,860 per sq.ft, which is an increase from Rs 2,600 per sq.ft in the 2023 revision. This reflects a 10% increase from the previous year. Looking back further, the 2017 revision recorded a value of Rs 1,742 per sq.ft, marking a significant increase of 49% to the 2023 figure, and an overall increase of 64% from 2017 to 2024.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The absence of these figures indicates that the guideline value remained unchanged during those years.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Vgn Krona Phase-2 is above this median, indicating its relative standing within the village.

• V.G.N. Krona Avenue: Rs 2,860 per sq.ft (2024)
• V.G.N Nagar (ward 4): Rs 2,860 per sq.ft (2024)
• V.G.N Nagar (ward 8): Rs 2,860 per sq.ft (2024)
• V.G.N Pratish Avenue: Rs 2,860 per sq.ft (2024)
• Vignesh Nagar: Rs 1,980 per sq.ft (2024)
• Venkateswara Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vgn Krona Phase-2

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total costs together to Rs 2,57,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating your fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vgn Krona Phase-2?

The Vgn Krona Phase-2 property falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kerugambakkam. It serves as the baseline for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

When a property is registered, the guideline value helps determine the official value of the property, which is used for legal and taxation purposes. Buyers and sellers should be aware of these values to ensure compliance with local regulations during transactions.

Frequently asked questions

What is the current guideline value of Vgn Krona Phase-2?

The current guideline value of Vgn Krona Phase-2 is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,742 per sq.ft in 2017 to Rs 2,860 per sq.ft in 2024, reflecting an overall increase of 64% during this period.

What are the stamp duty and registration fees for Vgn Krona Phase-2?

For a 1,000 sq.ft plot, the total guideline value is Rs 28,60,000. The stamp duty at 7% is Rs 2,00,200, and the registration fee at 2% is Rs 57,200, totaling Rs 2,57,400.

Which office handles the registration for Vgn Krona Phase-2?

The Pammal Sub Registrar Office handles the registration for Vgn Krona Phase-2, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Vgn Krona Phase-2?

Vgn Krona Phase-2 is classified as Commercial Class I Type - I, which is important for understanding its intended use and potential regulations.