Guideline Value for VGN Victoria Park Extention

VGN Victoria Park Extention guideline value

The current guideline value of VGN Victoria Park Extention is Rs 8,209 per sq.ft, effective from 1 July 2024. This property is located in Ambattur village, under the Ambattur SRO, and is classified as Mixed Special Type - I.

How the guideline value of VGN Victoria Park Extention has changed

In the 2017 revision, the guideline value was set at Rs 5,500 per sq.ft. This figure remained unchanged until the 2023 revision, where it was updated to Rs 8,209 per sq.ft. The 2024 revision also maintains this value at Rs 8,209 per sq.ft, indicating no change from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been an increase of 49%. The register has no figures for the revisions in 2002, 2003, 2007, and 2012 for this street.

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, with a median value of Rs 3,600 per sq.ft. The guideline value for VGN Victoria Park Extention is above this median.

• Vgn Victoria Park: 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 Extention

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 82,09,000. The stamp duty at 7% would be Rs 5,74,630, and the registration fee at 2% would be Rs 1,64,180, totaling Rs 7,38,810. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers VGN Victoria Park Extention?

The VGN Victoria Park Extention 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 information.

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

The guideline value is a crucial factor in the registration process for property transactions in Ambattur. It serves as a benchmark for determining the minimum value at which properties must be registered, ensuring compliance with local regulations.

When you buy or sell property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations tied to the property transaction.

Frequently asked questions

What is the current guideline value of VGN Victoria Park Extention?

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

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 5,500 per sq.ft to Rs 8,209 per sq.ft in 2024, marking a 49% increase overall.

What is the land classification of VGN Victoria Park Extention?

The land classification for VGN Victoria Park Extention is Mixed Special Type - I.

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.

How is the stamp duty calculated for properties in VGN Victoria Park Extention?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total duty of Rs 7,38,810.