Guideline Value for VGP Jayanthi Town Part-I

VGP Jayanthi Town Part-I guideline value

The current guideline value of VGP Jayanthi Town Part-I is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Maathoor village, under the Sunguvarchattram SRO, and is classified as Residential Class I Type - I.

How the guideline value of VGP Jayanthi Town Part-I has changed

Over the years, the guideline value of VGP Jayanthi Town Part-I has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, the 2017 revision saw a significant increase from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023, marking a 49% increase. The 2024 revision has maintained this value at Rs 400 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Thus, the revisions available are from 2012, 2017, 2023, and 2024, with the overall change from 2012 to 2024 being 0%.

Guideline values in Maathoor

In Maathoor, there are 47 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 2,687 per sq.ft. The median value for these streets is Rs 500 per sq.ft, placing VGP Jayanthi Town Part-I below this median.

• VGP Jayanthi Town: Rs 400 per sq.ft (2024)
• Venkateshwara Nagar: Rs 250 per sq.ft (2024)
• V.O.C Street: Rs 500 per sq.ft (2024)
• Valluvar Street: Rs 500 per sq.ft (2024)
• Town House Phase-II @ Temple Green: Rs 1,000 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in VGP Jayanthi Town Part-I

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers VGP Jayanthi Town Part-I?

The Sub Registrar Office that covers VGP Jayanthi Town Part-I is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Maathoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of VGP Jayanthi Town Part-I?

The current guideline value of VGP Jayanthi Town Part-I is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2012 to 2024, with a significant increase from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023. There are no figures available for the years 2002, 2003, and 2007.

What is the stamp duty for property in VGP Jayanthi Town Part-I?

The stamp duty for property in VGP Jayanthi Town Part-I is 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 4,00,000, the stamp duty would be Rs 28,000.

Which office handles the registration of properties in VGP Jayanthi Town Part-I?

The registration of properties in VGP Jayanthi Town Part-I is handled by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the guideline value determined for properties in Maathoor?

The guideline value for properties in Maathoor is determined by the Registration Department's guideline value register. It reflects the minimum value for property transactions in the area, ensuring fair documentation during sales and purchases.