Guideline Value for VGN MAHALAKSHMI NAGAR PHASE XIII

Vgn Mahalakshmi Nagar Phase Xiii guideline value

The current guideline value of Vgn Mahalakshmi Nagar Phase Xiii is Rs 7,920 per sq.ft, effective from 1 July 2024. This locality is situated in Perumalagaram village and falls under the Chennai South Joint II SRO. The land classification for this area is Mixed Type - II.

How the guideline value of Vgn Mahalakshmi Nagar Phase Xiii has changed

The guideline value for Vgn Mahalakshmi Nagar Phase Xiii has seen several revisions over the years. In the 2017 revision, the guideline value was set at Rs 4,800 per sq.ft. This figure increased significantly to Rs 7,200 per sq.ft in the 2023 revision, marking a 50% rise. The most recent revision in 2024 has further increased the guideline value to Rs 7,920 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 the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that have a guideline value for 2024, ranging from Rs 825 to Rs 7,920 per sq.ft. The median guideline value in this area is Rs 3,190 per sq.ft, which means that the guideline value of Vgn Mahalakshmi Nagar Phase Xiii is above this median.

• Vgn Mahalakshmi Nagar Phase - XII: Rs 7,920 per sq.ft (2024)
• Vgn Mahalakshmi Nagar Phase Xiv: Rs 7,920 per sq.ft (2024)
• Vgn Mahalakshmi Nagar Main Road: Rs 3,190 per sq.ft (2024)
• Vgn Mahalakshmi Nagar Cross Street: Rs 3,190 per sq.ft (2024)
• Venkatesan Street: Rs 3,190 per sq.ft (2024)
• Vadanoombal Cherry: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Vgn Mahalakshmi Nagar Phase Xiii

For a 1,000 sq.ft plot at the current guideline value of Rs 7,920 per sq.ft, the total guideline value amounts to Rs 79,20,000. The stamp duty at 7% would be Rs 5,54,400, and the registration fee at 2% would be Rs 1,58,400, bringing the total fees together to Rs 7,12,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vgn Mahalakshmi Nagar Phase Xiii?

The Sub Registrar Office that covers Vgn Mahalakshmi Nagar Phase Xiii is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perumalagaram. It is the basis on which stamp duty and registration fees are calculated, ensuring that transactions are documented accurately according to government regulations.

When you proceed with a property transaction, the guideline value will determine the minimum amount on which these fees are calculated, helping to establish a fair and standardized approach to property dealings in the area.

Frequently asked questions

What is the current guideline value of Vgn Mahalakshmi Nagar Phase Xiii?

The current guideline value of Vgn Mahalakshmi Nagar Phase Xiii is Rs 7,920 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 4,800 per sq.ft in 2017 to Rs 7,920 per sq.ft in 2024, marking a total increase of 65% over these years.

What are the stamp duty and registration fees for this area?

For a property valued at Rs 79,20,000, the stamp duty would be Rs 5,54,400 and the registration fee would be Rs 1,58,400, totaling Rs 7,12,800.

Which Sub Registrar Office covers this locality?

The Chennai South Joint II Sub Registrar Office covers Vgn Mahalakshmi Nagar Phase Xiii, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification of Vgn Mahalakshmi Nagar Phase Xiii?

The land classification for Vgn Mahalakshmi Nagar Phase Xiii is Mixed Type - II, indicating a diverse range of land use in the area.