Guideline Value for VGN SUMMERDALE PHASE II

Vgn Summerdale Phase II guideline value

The current guideline value for Vgn Summerdale Phase II is Rs 2,300 per sq.ft, effective from 1 July 2024. This property is located in Kovur village, under the Kunrathur SRO, and is classified as Mixed Type - III land.

How the guideline value of Vgn Summerdale Phase II has changed

The guideline value for Vgn Summerdale Phase II has experienced several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 2,000 per sq.ft. The most recent revision in 2024 increased this figure to Rs 2,300 per sq.ft, marking a change of +15% from the 2012 revision.

There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street. Thus, the only figures available are from the 2012 and 2024 revisions.

Guideline values in Kovur

In Kovur, there are 91 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, positioning Vgn Summerdale Phase II above this median.

• Venkateswara Nagar: Rs 1,650 per sq.ft (2024)
• V.B.R.Avenue Extn: Rs 1,650 per sq.ft (2024)
• V.B.R. Avenue: Rs 1,650 per sq.ft (2024)
• V.V.Nagar: Rs 1,650 per sq.ft (2024)
• Vatchala Avenue: Rs 1,650 per sq.ft (2024)
• Vasudevan Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Vgn Summerdale Phase II

For a 1,000 sq.ft plot at the current rate of Rs 2,300 per sq.ft, the guideline value amounts to Rs 23,00,000. The stamp duty at 7% would be Rs 1,61,000, and the registration fee at 2% would be Rs 46,000, bringing the total to Rs 2,07,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Vgn Summerdale Phase II?

The Vgn Summerdale Phase II property falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kovur. It serves as a benchmark for calculating the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value is used to determine the minimum value on which these fees are calculated. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Vgn Summerdale Phase II?

The current guideline value of Vgn Summerdale Phase II is Rs 2,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,000 per sq.ft in 2012 to Rs 2,300 per sq.ft in 2024, reflecting a change of +15%.

Are there any years without recorded figures for Vgn Summerdale Phase II?

Yes, there are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for Vgn Summerdale Phase II.

What is the registration office for Vgn Summerdale Phase II?

The registration office covering Vgn Summerdale Phase II is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Kovur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 23,00,000, the stamp duty would be Rs 1,61,000 at a rate of 7%.