Guideline Value for VGN ROYAL COURT

Vgn Royal Court guideline value

The current guideline value of Vgn Royal Court is Rs 2,970 per sq.ft, effective from 1 July 2024. This property is located in Mogalivakkam village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Vgn Royal Court has changed

Over the years, the guideline value for Vgn Royal Court has seen several revisions. The 2017 revision set the value at Rs 1,809 per sq.ft, which increased to Rs 2,700 per sq.ft in the 2023 revision. The most recent 2024 revision has raised the guideline value to Rs 2,970 per sq.ft, marking a 10% increase from the previous year. The overall change from the 2017 revision to the 2024 revision reflects a significant increase of 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The increase from 2017 to 2023 was 49%, indicating a steady rise in the guideline value during this period.

Guideline values in Mogalivakkam

Mogalivakkam has 98 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, which is equal to the guideline value of Vgn Royal Court.

• V.G.N Lakshmi Avenue: Rs 3,520 per sq.ft (2024)
• V.G.N. Brindavan Garden Extension: Rs 3,520 per sq.ft (2024)
• V.G.N. Blooming Garden: Rs 3,520 per sq.ft (2024)
• Viswanathan Palani Street: Rs 2,860 per sq.ft (2024)
• Vembadi Vinayakar Koil Street (V.V.K.S): Rs 2,860 per sq.ft (2024)
• Udhayam Avenue: Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Vgn Royal Court

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. 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 Royal Court?

The Vgn Royal Court is covered by the Kunrathur Sub Registrar Office, located at No.59. Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Mogalivakkam. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Vgn Royal Court?

The current guideline value of Vgn Royal Court is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,809 per sq.ft in 2017 to Rs 2,970 per sq.ft in 2024, which is a total increase of 64% over this period.

What are the stamp duty and registration fees for Vgn Royal Court?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 2,67,300.

Which office handles the registration for Vgn Royal Court?

The Kunrathur Sub Registrar Office is responsible for handling registrations for Vgn Royal Court, located at No.59. Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Vgn Royal Court?

Vgn Royal Court is classified as Residential Special Type - I, indicating its suitability for residential development.