Guideline Value for VGN SPARKLE PHASE - I

Vgn Sparkle Phase - I guideline value

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

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

The guideline value for Vgn Sparkle Phase - I has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 2,000 per sq.ft. Prior to that, the 2017 revision also recorded Rs 2,000 per sq.ft, indicating no change from that year to 2023. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value increased by 10%. The consistent value of Rs 2,000 per sq.ft from 2017 to 2023 reflects stability during that period, while the new rate in 2024 represents a significant adjustment.

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 - I is above this median, indicating its relative positioning in the local market.

• Vgn Sparkle Phase - II: 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 - I

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vgn Sparkle Phase - I?

The Vgn Sparkle Phase - I 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vilingiyambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue based on the property's assessed value.

Frequently asked questions

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

The current guideline value of Vgn Sparkle Phase - I 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 increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. There was no change from 2017 to 2023, where it remained at Rs 2,000 per sq.ft.

What are the other streets in Vilingiyambakkam with their guideline values?

Other streets in Vilingiyambakkam include Vgn Sparkle Phase - II and Vgn Sparkle Phase - III, both at Rs 2,200 per sq.ft, as well as Vgn Spring Field Phase II at Rs 1,950 per sq.ft, Vgn West Field at Rs 3,130 per sq.ft, Vgn Horizon at Rs 4,400 per sq.ft, and V.G.N. Crofton Gardens Extension at Rs 2,640 per sq.ft.

What is the registration fee for property in Vgn Sparkle Phase - I?

The registration fee for a property in Vgn Sparkle Phase - I is calculated based on the guideline value. For a 1,000 sq.ft plot, the total registration fee would be Rs 1,98,000, which includes stamp duty and registration fees.

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

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