Guideline Value for VGN SOUTHERN COLONY (KR)

Vgn Southern Colony (Kr) guideline value

The current guideline value of Vgn Southern Colony (Kr) is Rs 1,980 per sq.ft, effective from 1 July 2024. This locality is situated in Sattamangalam village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - II.

How the guideline value of Vgn Southern Colony (Kr) has changed

The guideline value for Vgn Southern Colony (Kr) has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,206 per sq.ft. Following this, the value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, and finally rose to Rs 1,980 per sq.ft in the 2024 revision.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and then by 10% from 2023 to 2024. Overall, from the 2012 revision to the 2024 revision, the value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, placing Vgn Southern Colony (Kr) above this median at Rs 1,980 per sq.ft.

• Vethanayagam Street(Ward -8): Rs 1,760 per sq.ft (2024)
• Venkateswaran Nagar (Per): Rs 660 per sq.ft (2024)
• Vignesh Nagar (N): Rs 660 per sq.ft (2024)
• Venkatesapuram Colony (Kr): Rs 660 per sq.ft (2024)
• Vijayanaidu Street (Ward -17): Rs 550 per sq.ft (2024)
• Villier Colony (Ward -2): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Vgn Southern Colony (Kr)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vgn Southern Colony (Kr)?

The Sub Registrar Office that covers Vgn Southern Colony (Kr) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in transactions.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This means that the buyer must pay these fees based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Vgn Southern Colony (Kr)?

The current guideline value of Vgn Southern Colony (Kr) is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Vgn Southern Colony (Kr)?

Vgn Southern Colony (Kr) is classified as Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty rates for properties in Vgn Southern Colony (Kr)?

The stamp duty for properties in Vgn Southern Colony (Kr) is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vgn Southern Colony (Kr) located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.