Guideline Value for VGP Mount View

VGP Mount View guideline value

The current guideline value of VGP Mount View is Rs 181 per sq.ft, effective from 1 July 2024. This property is located in Mettupalayam village, under the Sunguvarchattram SRO, and is classified as Residential Class II Type - I.

How the guideline value of VGP Mount View has changed

Over the years, the guideline value of VGP Mount View has seen several revisions. The earliest recorded revision is from 2007, where the value was Rs 50 per sq.ft. This increased significantly to Rs 180 per sq.ft in 2012, marking a rise of 260%. However, the value then decreased to Rs 121 per sq.ft in 2017, reflecting a decline of 33%. The guideline value remained stable at Rs 181 per sq.ft from 2017 through the 2023 revision, and it has not changed in the 2024 revision either.

From 2017 to 2023, there was a notable increase of 50%, bringing the value back to Rs 181 per sq.ft, which has now been maintained through the latest revision in 2024. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 262%.

Guideline values in Mettupalayam

In Mettupalayam, there are 45 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 181 to Rs 900 per sq.ft. The median value is Rs 181 per sq.ft, which is the same as the guideline value for VGP Mount View. Below are other streets in Mettupalayam with their respective guideline values:

• V.G.P Vinoth Town: Rs 181 per sq.ft (2024)
• Victoria Town Part-II: Rs 200 per sq.ft (2024)
• Venkateswara Nagar Stage - I To IV: Rs 181 per sq.ft (2024)
• Vijay Nagar: Rs 181 per sq.ft (2024)
• Venkateshwara Nagar: Rs 181 per sq.ft (2024)
• Vasantham Gardens: Rs 181 per sq.ft (2024)

Stamp duty and registration fee for property in VGP Mount View

For a 1,000 sq.ft plot at the current guideline value of Rs 181 per sq.ft, the total guideline value would be Rs 1,81,000. The stamp duty at 7% would amount to Rs 12,670, and the registration fee at 2% would be Rs 3,620. Together, the total cost for stamp duty and registration would be Rs 16,290. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers VGP Mount View?

The Sub Registrar Office that covers VGP Mount View is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mettupalayam. It helps determine the stamp duty and registration fees applicable to the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher value will be used for calculating the fees.

During the registration process, the guideline value is checked against the sale price to ensure compliance with local regulations. This ensures that all property transactions are conducted transparently and fairly, reflecting the official value set by the authorities.

Frequently asked questions

What is the current guideline value of VGP Mount View?

The current guideline value of VGP Mount View is Rs 181 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 50 per sq.ft in 2007 to Rs 181 per sq.ft in 2024, reflecting an overall increase of 262% over the years.

What is the land classification of VGP Mount View?

VGP Mount View is classified as Residential Class II Type - I, indicating its use for residential purposes.

Where is the Sub Registrar Office for VGP Mount View located?

The Sub Registrar Office for VGP Mount View is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Mettupalayam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees can be calculated accordingly.