Guideline Value for VGN ORVILLEE EXTENSION-I

Vgn Orvillee Extension-I guideline value

The current guideline value for Vgn Orvillee Extension-I is Rs 4,600 per sq.ft. This property is located in Kolapakkam village, under the Pammal SRO, and is classified as Residential Special Type - II.

How the guideline value of Vgn Orvillee Extension-I has changed

The guideline value for Vgn Orvillee Extension-I has undergone several revisions over the years. The oldest available revision is from 2017, which set the value at Rs 2,800 per sq.ft. The most recent revision, effective from 1 July 2024, has increased this value to Rs 4,600 per sq.ft, marking a significant increase of 64% from the 2017 figure.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street. Hence, the only revisions that reflect the guideline value are from 2017 and 2024.

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 for Vgn Orvillee Extension-I is above this median, indicating its higher valuation compared to many other streets in the area.

• Vgn Orville: Rs 3,285 per sq.ft (2024)
• Vgn Orville Extension II: Rs 4,600 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 Orvillee Extension-I

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

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

Which Sub Registrar Office covers Vgn Orvillee Extension-I?

The Sub Registrar Office that covers Vgn Orvillee Extension-I is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

For more information, you can find your SRO.

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

The guideline value is a crucial factor in determining the registration fees and stamp duty when buying or selling property in Kolapakkam. It serves as a benchmark for the official valuation of the property, ensuring that the transaction is recorded accurately in the registration office.

When you proceed with a sale or purchase, the guideline value will be referenced to calculate the applicable fees, which are mandatory for the legal transfer of property ownership. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value for Vgn Orvillee Extension-I?

The current guideline value for Vgn Orvillee Extension-I is Rs 4,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the last revision in 2017, the guideline value has increased from Rs 2,800 per sq.ft to Rs 4,600 per sq.ft in 2024, marking a 64% increase.

What are the other streets with guideline values in Kolapakkam?

Other streets in Kolapakkam include Vgn Orville at Rs 3,285 per sq.ft, Vgn Orville Extension II at Rs 4,600 per sq.ft, VGN LakshmiNagar at Rs 2,200 per sq.ft, Venkateswara Nagar at Rs 2,750 per sq.ft, Vijayalakshmi Nagar at Rs 2,200 per sq.ft, and Vembuliamman Koil Street at Rs 2,200 per sq.ft.

What is the role of the Sub Registrar Office in property transactions?

The Sub Registrar Office is responsible for the registration of property transactions, ensuring that ownership is legally transferred and recorded. It also calculates the applicable stamp duty and registration fees based on the guideline value.

How is the stamp duty calculated for properties in Vgn Orvillee Extension-I?

The stamp duty for properties in Vgn Orvillee Extension-I is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.