Guideline Value for VGN SPARKLE PHASE - II

Vgn Sparkle Phase - II guideline value

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

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

The guideline value for Vgn Sparkle Phase - II has undergone several revisions over the years. In the 2017 revision, the value was set at Rs 2,000 per sq.ft. This figure remained unchanged during the 2023 revision. However, in the 2024 revision, the guideline value increased by 10% to Rs 2,200 per sq.ft.

Prior to the 2017 revision, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 10%.

Guideline values in Vilingiyambakkam

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

• Vgn Sparkle Phase - I: Rs 2,200 per sq.ft (2024)
• Vgn Sparkle Phase - III: 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 - II

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, calculated at 7%, is Rs 1,54,000, while the registration fee at 2% is Rs 44,000. Together, the total cost for stamp duty and registration fee would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vgn Sparkle Phase - II?

The Sub Registrar Office that covers Vgn Sparkle Phase - II is 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 further assistance.

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

The guideline value is an essential factor in property transactions in Vilingiyambakkam, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is crucial for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to accurately assess the costs associated with property transactions.

Frequently asked questions

What is the current guideline value for Vgn Sparkle Phase - II?

The current guideline value for Vgn Sparkle Phase - II 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, marking a 10% increase. There were no figures available for the years 2002, 2003, 2007, and 2012.

What are the stamp duty and registration fees for a property in Vgn Sparkle Phase - II?

For a 1,000 sq.ft property, the total guideline value is Rs 22,00,000. The stamp duty is Rs 1,54,000, and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Vgn Sparkle Phase - II?

The Avadi Sub Registrar Office covers Vgn Sparkle Phase - II and is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum price for property registration and is essential for calculating stamp duty and registration fees. Buyers and sellers must be aware of the current guideline value for compliance and accurate cost assessment.