Guideline Value for VGN ORVILLE EXTENSION II

Vgn Orville Extension II guideline value

The current guideline value of Vgn Orville Extension II is Rs 4,600 per sq.ft, effective from 1 July 2024. This property is located in Kolapakkam village under the Pammal SRO, classified as Residential Special Type - II.

How the guideline value of Vgn Orville Extension II has changed

The guideline value for Vgn Orville Extension II has undergone significant changes over the years. The 2017 revision set the value at Rs 2,800 per sq.ft, and this was later revised to Rs 4,600 per sq.ft in 2024, marking an increase of 64%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2023 in the register for this street.

Prior to the 2017 revision, the guideline values for this street were not recorded, making the 2017 figure the first noted in recent years. The current rate of Rs 4,600 per sq.ft is reflective of the latest revision and indicates a considerable increase from the previous value.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Vgn Orville Extension II is above this median.

• Vgn Orvillee Extension-I: Rs 4,600 per sq.ft (2024)
• Vgn Orville: Rs 3,285 per sq.ft (2024)
• VGN LakshmiNagar: Rs 2,200 per sq.ft (2024)
• Venkateswara Nagar: Rs 2,750 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vgn Orville Extension II

For a 1,000 sq.ft plot at the current guideline value of Rs 4,600 per sq.ft, the total guideline value amounts to Rs 46,00,000. The stamp duty at 7% would be Rs 3,22,000, and the registration fee at 2% would be Rs 92,000, bringing the total fees to Rs 4,14,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vgn Orville Extension II?

The Vgn Orville Extension II is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role during property transactions in Kolapakkam, as it is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Vgn Orville Extension II?

The current guideline value of Vgn Orville Extension II is Rs 4,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,800 per sq.ft to Rs 4,600 per sq.ft in 2024, which is a rise of 64%.

Are there any years without recorded guideline values for this street?

Yes, the register has no figures for the years 2002, 2003, 2007, 2012, and 2023 for Vgn Orville Extension II.

What is the registration office for Vgn Orville Extension II?

The Pammal Sub Registrar Office covers Vgn Orville Extension II, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential to assess whether the guideline value or the sale price is higher to determine the applicable fees.