Guideline Value for VGP Iswarya Nagar

VGP Iswarya Nagar guideline value

The current guideline value of VGP Iswarya Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village, under the Sriperumpudur SRO, classified as Commercial Class I Type - I.

How the guideline value of VGP Iswarya Nagar has changed

The guideline value for VGP Iswarya Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 100 per sq.ft. It increased significantly by 300% to Rs 400 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased by 33% to Rs 268 per sq.ft. The subsequent revisions in 2023 and 2024 maintained the value at Rs 400 per sq.ft, showing no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Kolathur

In Kolathur, there are 45 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,300 per sq.ft, with a median of Rs 250 per sq.ft. The guideline value for VGP Iswarya Nagar is above this median.

• Vinayagar Koil Street: Rs 200 per sq.ft (2024)
• VIP city: Rs 300 per sq.ft (2024)
• VIP Nagar: Rs 300 per sq.ft (2024)
• V.O.C Nagar: Rs 200 per sq.ft (2024)
• Thiruvalluvar Salai: Rs 250 per sq.ft (2024)
• Tambaram Roja Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in VGP Iswarya Nagar

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers VGP Iswarya Nagar?

The Sub Registrar Office covering VGP Iswarya Nagar is 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 Kolathur

The guideline value is a crucial factor when buying or selling property in Kolathur, as it determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, helping to maintain transparency in property dealings. Buyers should be aware that the guideline value may differ from the actual sale price, but the higher of the two will be used for calculating the applicable duties and fees.

Frequently asked questions

What is the current guideline value of VGP Iswarya Nagar?

The current guideline value of VGP Iswarya Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and has remained at Rs 400 per sq.ft in 2023 and 2024.

What are the guideline values of other streets in Kolathur?

Other streets in Kolathur have varying guideline values, with rates ranging from Rs 100 to Rs 1,300 per sq.ft. For example, Vinayagar Koil Street is Rs 200 per sq.ft, while VIP city and VIP Nagar are both Rs 300 per sq.ft in 2024.

What is the stamp duty rate for properties in VGP Iswarya Nagar?

The stamp duty rate for properties in VGP Iswarya Nagar is 7%, which is calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for VGP Iswarya Nagar located?

The Sub Registrar Office for VGP Iswarya Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.