Guideline Value for VGN SOUTHERN GARDEN EXTN

Vgn Southern Garden Extn guideline value

The current guideline value of Vgn Southern Garden Extn is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Kavulbazaar village under the Pammal SRO, classified as Residential Class I Type - I.

How the guideline value of Vgn Southern Garden Extn has changed

The guideline value for Vgn Southern Garden Extn has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 670 per sq.ft. This increased to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the guideline value at Rs 1,100 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 64%. There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kavulbazaar

Kavulbazaar village has a total of 44 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 825 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 825 per sq.ft, positioning Vgn Southern Garden Extn above this median at Rs 1,100 per sq.ft.

• VGN Souther Garden: Rs 1,100 per sq.ft (2024)
• Vivekanandha Nagar: Rs 825 per sq.ft (2024)
• Yasodha Nagar: Rs 825 per sq.ft (2024)
• Sudharma: Rs 1,100 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,100 per sq.ft (2024)
• Rathinavel Nagar: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Vgn Southern Garden Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 Garden Extn?

The Vgn Southern Garden Extn is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Kavulbazaar

The guideline value is a crucial factor when registering property transactions in Kavulbazaar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vgn Southern Garden Extn?

The current guideline value of Vgn Southern Garden Extn is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 670 per sq.ft to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64%.

What is the land classification of Vgn Southern Garden Extn?

Vgn Southern Garden Extn is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kavulbazaar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.