Guideline Value for VGN VICTORIA PARK

Vgn Victoria Park guideline value

The current guideline value of Vgn Victoria Park is Rs 8,209 per sq.ft, effective from 1 July 2024. This property is located in Ambattur village, under the Ambattur SRO, with a land classification of Mixed Special Type - I.

How the guideline value of Vgn Victoria Park has changed

The guideline value for Vgn Victoria Park has seen significant changes over the years. The 2017 revision set the value at Rs 5,500 per sq.ft. This figure remained until the 2023 revision, which also recorded Rs 8,209 per sq.ft. As of the 2024 revision, the guideline value remains unchanged at Rs 8,209 per sq.ft, showing a 49% increase from the 2017 value.

Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only revisions recorded are from 2017, 2023, and 2024, with the 2023 to 2024 change being 0%.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value for these streets is Rs 3,600 per sq.ft, placing Vgn Victoria Park's 2024 figure above this median.

• VGN Victoria Park Extention: Rs 8,209 per sq.ft (2024)
• V.G.N. Shanthi Nagar: Rs 5,100 per sq.ft (2024)
• Vgn Oval Gardens: Rs 8,209 per sq.ft (2024)
• VGN Oval Garden Extention: Rs 8,209 per sq.ft (2024)
• Vgn Hive Phase - II: Rs 8,209 per sq.ft (2024)
• Vgn Hive Phase - I: Rs 8,209 per sq.ft (2024)

Stamp duty and registration fee for property in Vgn Victoria Park

For a 1,000 sq.ft plot at the current guideline value of Rs 8,209 per sq.ft, the total guideline value would be Rs 82,09,000. The stamp duty at 7% would amount to Rs 5,74,630, and the registration fee at 2% would be Rs 1,64,180, totaling Rs 7,38,810. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vgn Victoria Park?

The Vgn Victoria Park property falls under the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ambattur. It determines the stamp duty and registration fees that need to be paid, which are based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a value that reflects the current market conditions as set by the authorities. This helps in maintaining transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Vgn Victoria Park?

The current guideline value of Vgn Victoria Park is Rs 8,209 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 5,500 per sq.ft in 2017 to Rs 8,209 per sq.ft in 2023 and remains the same in 2024, marking a 49% increase overall since 2017.

What are the other streets in Ambattur with similar guideline values?

Other streets in Ambattur with similar guideline values include VGN Victoria Park Extention, Vgn Oval Gardens, VGN Oval Garden Extention, Vgn Hive Phase - I, and Vgn Hive Phase - II, all at Rs 8,209 per sq.ft in 2024.

Where can I find the Sub Registrar Office for Vgn Victoria Park?

The Sub Registrar Office for Vgn Victoria Park is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Ambattur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 82,09,000, the stamp duty would be calculated at 7% of this value.