Guideline Value for VGN Souther Garden

VGN Souther Garden guideline value

The current guideline value of VGN Souther Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Kavulbazaar village, under the Pammal SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of VGN Souther Garden has changed

The guideline value for VGN Souther Garden has seen several revisions over the years. In the 2017 revision, the value was set at Rs 670 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kavulbazaar

Kavulbazaar village has 44 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 825 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 825 per sq.ft, making the current value of VGN Souther Garden above that median.

• Vgn Southern Garden Extn: Rs 1,100 per sq.ft (2024)
• Vivekanandha Nagar: Rs 825 per sq.ft (2024)
• Yasodha Nagar: Rs 825 per sq.ft (2024)
• Sudharma: Rs 1,100 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,100 per sq.ft (2024)
• Rathinavel Nagar: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in VGN Souther Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers VGN Souther Garden?

The Sub Registrar Office that covers VGN Souther Garden is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Kavulbazaar. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When you register a property, the guideline value helps determine the amount of tax owed. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to accurately calculate the financial aspects of the transaction.

Frequently asked questions

What is the current guideline value of VGN Souther Garden?

The current guideline value of VGN Souther Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 670 per sq.ft to Rs 1,100 per sq.ft in 2024, marking a total increase of 64% over the years.

What is the land classification for VGN Souther Garden?

VGN Souther Garden falls under the Residential Class I Type - I land classification.

What are the stamp duty and registration fees for VGN Souther Garden?

For a 1,000 sq.ft plot, the total guideline value is Rs 11,00,000. The stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles the registration for VGN Souther Garden?

The Pammal Sub Registrar Office handles the registration for VGN Souther Garden, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.