Guideline Value for VGP MOUNT MARY TOWN (WARD -1)

Vgp Mount Mary Town (Ward -1) guideline value

The current guideline value of Vgp Mount Mary Town (Ward -1) is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Konathi village and falls under the Chengleput Joint II SRO with a land classification of Residential Class I Type - I.

How the guideline value of Vgp Mount Mary Town (Ward -1) has changed

The guideline value for Vgp Mount Mary Town has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. The value increased to Rs 1,000 per sq.ft again in the 2023 revision, and the latest revision in 2024 has raised it to Rs 1,100 per sq.ft.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Konathi

In Konathi, there are 131 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing Vgp Mount Mary Town's 2024 figure above this median.

• Vetrivelan Nagar: Rs 1,980 per sq.ft (2024)
• Venkateswara Nagar (Val): Rs 880 per sq.ft (2024)
• Vijayalakshmi Nagar Vallancheri (Ward -1): Rs 770 per sq.ft (2024)
• Vijayalakshmi Nagar (Ward-21): Rs 660 per sq.ft (2024)
• Viknarajapuram Vallancheri (Ward -1): Rs 770 per sq.ft (2024)
• Vembuliamman Koil Street (Ward -1): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Vgp Mount Mary Town (Ward -1)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total charges Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vgp Mount Mary Town (Ward -1)?

The Chengleput Joint II Sub Registrar Office covers Vgp Mount Mary Town (Ward -1). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for additional information.

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

The guideline value is a crucial factor during the registration of property transactions in Konathi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is considered to ensure that the correct fees are paid. This value is essential for both buyers and sellers to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Vgp Mount Mary Town (Ward -1)?

The current guideline value of Vgp Mount Mary Town (Ward -1) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of 2024.

What is the median guideline value for streets in Konathi?

The median guideline value for streets in Konathi is Rs 770 per sq.ft, with Vgp Mount Mary Town's value being above this median.

What are the stamp duty and registration fees for properties in Vgp Mount Mary Town?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where can I find the Sub Registrar Office for Vgp Mount Mary Town (Ward -1)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information by following the link provided.