Guideline Value for VGP MOTHER TERESAPURAM

Vgp Mother Teresapuram guideline value

The current guideline value for Vgp Mother Teresapuram is Rs 150 per sq.ft, effective from 1 July 2024. This locality is situated in Kovalavedu village, under the Walajabad SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vgp Mother Teresapuram has changed

The guideline value for Vgp Mother Teresapuram has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 150 per sq.ft. In 2017, the value decreased to Rs 100 per sq.ft, marking a decline of 33%. However, the value increased to Rs 150 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, reflecting no change from the previous year.

From 2012 to 2024, the overall change in the guideline value is 0%. The 2023 to 2024 revision shows no change, with a consistent rate of Rs 150 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Kovalavedu

In Kovalavedu, there are four streets under the Walajabad SRO that carry a 2024 guideline value. The median value for these streets is Rs 150 per sq.ft, which is equal to the 2024 figure for Vgp Mother Teresapuram. The guideline values for other streets in Kovalavedu are as follows:

• Sri Ayyappan Nagar Phase-II: Rs 150 per sq.ft (2024)
• Sri Ayyappan Nagar Phase-I: Rs 150 per sq.ft (2024)
• Thiru Rajadurai Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Vgp Mother Teresapuram

For a 1,000 sq.ft plot at the current rate of Rs 150 per sq.ft, the guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, totaling Rs 13,500. It is important to note that 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 details.

Which Sub Registrar Office covers Vgp Mother Teresapuram?

The Sub Registrar Office that covers Vgp Mother Teresapuram is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kovalavedu. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are based on an official valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. The registration office will refer to this value to ensure compliance with local regulations during the buying or selling process.

Frequently asked questions

What is the current guideline value of Vgp Mother Teresapuram?

The current guideline value of Vgp Mother Teresapuram is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 150 per sq.ft in both 2023 and 2024. The value was Rs 100 per sq.ft in 2017 and Rs 150 per sq.ft in 2012.

What are the other streets in Kovalavedu with guideline values?

In Kovalavedu, other streets include Sri Ayyappan Nagar Phase-II and Phase-I, both at Rs 150 per sq.ft, and Thiru Rajadurai Nagar at Rs 200 per sq.ft for 2024.

How is the stamp duty calculated for properties in Vgp Mother Teresapuram?

Stamp duty is calculated at 7% on the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the total stamp duty would be Rs 10,500.

Which office handles property registrations for Vgp Mother Teresapuram?

The Walajabad Sub Registrar Office handles property registrations for Vgp Mother Teresapuram, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.