Guideline Value for VGN SPARKLE PHASE - III

Vgn Sparkle Phase - III guideline value

The current guideline value of Vgn Sparkle Phase - III is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Vilingiyambakkam village under the Avadi SRO, classified as Mixed Type - I land.

How the guideline value of Vgn Sparkle Phase - III has changed

In the 2017 revision, the guideline value was Rs 2,000 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, marking a 10% increase from the previous year. The overall change from the 2017 revision to the 2024 revision is also a 10% increase.

The register has no figure for this street for the years 2002, 2003, 2007, and 2012. Therefore, the only revisions applicable are from 2017, 2023, and 2024.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a guideline value for 2024, ranging from Rs 800 to Rs 4,400 per sq.ft. The median value for these streets is Rs 935 per sq.ft, indicating that Vgn Sparkle Phase - III is priced above this median.

• Vgn Sparkle Phase - II: Rs 2,200 per sq.ft (2024)
• Vgn Sparkle Phase - I: Rs 2,200 per sq.ft (2024)
• Vgn Spring Field Phase II: Rs 1,950 per sq.ft (2024)
• Vgn West Field: Rs 3,130 per sq.ft (2024)
• Vgn Horizon: Rs 4,400 per sq.ft (2024)
• V.G.N. Crofton Gardens Extension: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Vgn Sparkle Phase - III

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vgn Sparkle Phase - III?

The Vgn Sparkle Phase - III is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Vilingiyambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps determine the official value of the property for taxation purposes. Buyers and sellers must be aware of these values to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vgn Sparkle Phase - III?

The current guideline value of Vgn Sparkle Phase - III is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There was no change in the figure from 2017 to 2023.

What are the guideline values of other streets in Vilingiyambakkam?

Other streets in Vilingiyambakkam have a range of guideline values, with some streets like Vgn Sparkle Phase - II and Vgn Sparkle Phase - I also at Rs 2,200 per sq.ft. Other streets vary from Rs 1,950 to Rs 4,400 per sq.ft.

What are the stamp duty and registration fees for Vgn Sparkle Phase - III?

For a 1,000 sq.ft plot at the current guideline value, the total cost for stamp duty and registration fees would be Rs 1,98,000. The stamp duty is charged at 7%, while the registration fee is 2% of the guideline value.

Which office handles the registration for Vgn Sparkle Phase - III?

The registration for Vgn Sparkle Phase - III is handled by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.