Guideline Value for VGP Industrial Form

VGP Industrial Form guideline value

The current guideline value of VGP Industrial Form is Rs 700 per sq.ft, effective from 1 July 2024. This property is located in Mevaloorkuppam B village under the Sriperumpudur SRO, classified as Residential Special Type - II.

How the guideline value of VGP Industrial Form has changed

In the 2023 revision, the guideline value for VGP Industrial Form was Rs 900 per sq.ft. However, in the 2024 revision, this value decreased by 22% to Rs 700 per sq.ft. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

Thus, the most recent changes reflect a significant drop from the previous year's value, indicating a shift in the guideline value for this property type. The guideline value for VGP Industrial Form is now positioned at a lower rate compared to the last reported figure.

Guideline values in Mevaloorkuppam B

Mevaloorkuppam B has a total of 84 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 100 to Rs 6,200 per sq.ft. The median guideline value in this area is Rs 400 per sq.ft, making the current value of VGP Industrial Form above that median.

• VGP Queens Town: Rs 700 per sq.ft (2024)
• Venkateswara Nagar - II: Rs 300 per sq.ft (2024)
• Venkateswara Nagar: Rs 1,320 per sq.ft (2024)
• Vijayashanthi Infinite: Rs 1,320 per sq.ft (2024)
• Vinayagar Koil Street: Rs 300 per sq.ft (2024)
• Vasan Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in VGP Industrial Form

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, while the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. 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 VGP Industrial Form?

The VGP Industrial Form is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Mevaloorkuppam B. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for legal and tax purposes.

When registering a property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs involved in the property transaction process. It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of VGP Industrial Form?

The current guideline value of VGP Industrial Form is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

The guideline value decreased from Rs 900 per sq.ft in 2023 to Rs 700 per sq.ft in 2024, reflecting a 22% reduction.

What is the land classification of VGP Industrial Form?

VGP Industrial Form is classified as Residential Special Type - II under the current guidelines.

What are the registration fees for property in VGP Industrial Form?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000.

Which office handles the registration for VGP Industrial Form?

The Sriperumpudur Sub Registrar Office handles the registration for VGP Industrial Form, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.