Guideline Value for VGN TRINITY GARDENS

Vgn Trinity Gardens guideline value

The current guideline value of Vgn Trinity Gardens is Rs 8,250 per sq.ft, effective from 1 July 2024. This property is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Mixed Type - I.

How the guideline value of Vgn Trinity Gardens has changed

The guideline value for Vgn Trinity Gardens has seen significant changes over the years. The 2017 revision set the value at Rs 5,000 per sq.ft. This figure increased by 50% to Rs 7,500 per sq.ft in the 2023 revision. The most recent revision in 2024 has raised the guideline value further to Rs 8,250 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Vgn Trinity Gardens above this median.

• Vgn Mugavari Phase-II: Rs 8,250 per sq.ft (2024)
• Vgn Mugavari Phase -I: Rs 5,500 per sq.ft (2024)
• Vgn Meyfield Park: Rs 8,250 per sq.ft (2024)
• Vgn Melrose Gardens Extension: Rs 8,250 per sq.ft (2024)
• Vgn Melrose Gardens: Rs 8,250 per sq.ft (2024)
• Vgn Mayfield Park Extension: Rs 8,250 per sq.ft (2024)

Stamp duty and registration fee for property in Vgn Trinity Gardens

For a 1,000 sq.ft plot at the current guideline value of Rs 8,250 per sq.ft, the total guideline value amounts to Rs 82,50,000. The stamp duty at 7% would be Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, bringing the total fees together to Rs 7,42,500. Please note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vgn Trinity Gardens?

The Vgn Trinity Gardens property falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Tambaram. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly influences the financial obligations during the registration process. Ensuring that all calculations are based on the latest guideline value helps in avoiding any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Vgn Trinity Gardens?

The current guideline value of Vgn Trinity Gardens is Rs 8,250 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2017 to Rs 7,500 per sq.ft in 2023, and then to Rs 8,250 per sq.ft in 2024. This represents a 65% increase overall from 2017 to 2024.

What is the land classification of Vgn Trinity Gardens?

Vgn Trinity Gardens is classified as Mixed Type - I, which indicates the nature of land use in the area.

What are the stamp duty and registration fees for property in Vgn Trinity Gardens?

For a property valued at Rs 82,50,000, the stamp duty would be Rs 5,77,500 and the registration fee would be Rs 1,65,000, totaling Rs 7,42,500. The duty is charged on the higher of the guideline value or the sale price.

Which office handles the registration for Vgn Trinity Gardens?

The registration for Vgn Trinity Gardens is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.