Guideline Value for VGN Serenity Grove

VGN Serenity Grove guideline value

The current guideline value for VGN Serenity Grove is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Ayappakkam village under the Ambattur SRO, with a land classification of Mixed Type - I.

How the guideline value of VGN Serenity Grove has changed

Over the years, the guideline value of VGN Serenity Grove has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,340 per sq.ft. The value increased to Rs 2,000 per sq.ft in 2012, and then rose significantly to Rs 2,000 per sq.ft in 2023, marking a 49% increase. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, representing a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value for VGN Serenity Grove is above this median.

• VGN Serenity Grove Phase - II: Rs 3,300 per sq.ft (2024)
• Vijayalakshmi street(Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Venkataswara Nagar: Rs 880 per sq.ft (2024)
• Vinayakar Koil Street: Rs 880 per sq.ft (2024)
• Vengan Choudry Main Road (Rajammal nagar): Rs 1,300 per sq.ft (2024)
• Vivekananda Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in VGN Serenity Grove

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, bringing the total cost for these fees to 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers VGN Serenity Grove?

The VGN Serenity Grove property falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

To find your specific Sub Registrar Office, you can visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Ayappakkam. It is used to determine the stamp duty and registration fees that are applicable during the registration process. Buyers must pay the stamp duty based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions. This helps in maintaining transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value for VGN Serenity Grove?

The current guideline value for VGN Serenity Grove 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 2023 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. The value was Rs 1,340 per sq.ft in 2017, which increased to Rs 2,000 per sq.ft in 2023.

What is the land classification for VGN Serenity Grove?

The land classification for VGN Serenity Grove is Mixed Type - I, indicating a blend of residential and commercial use.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions is 7% of the guideline value or the sale price, whichever is higher. Additional registration fees apply at 2%.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can also find your specific Sub Registrar Office online.