Guideline Value for VGP NEW GOLD AVENUE

Vgp New Gold Avenue guideline value

The current guideline value of Vgp New Gold Avenue is Rs 605 per sq.ft, effective from 1 July 2024. This street is located in Kalivanthapattu village, under the Thiruporur SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Vgp New Gold Avenue has changed

The guideline value for Vgp New Gold Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, reflecting a decrease of 33%. The 2023 revision increased the value to Rs 600 per sq.ft, and the latest 2024 revision has further increased it to Rs 605 per sq.ft, marking a 1% rise.

From 2017 to 2023, the guideline value increased significantly by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by just 1%. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Kalivanthapattu

In Kalivanthapattu, there are 19 streets under the Thiruporur SRO with a guideline value for 2024 ranging from Rs 300 to Rs 2,000 per sq.ft. The median value is Rs 605 per sq.ft, which is the same as the guideline value for Vgp New Gold Avenue.

• Vgp New Golden Avenue: Rs 605 per sq.ft (2024)
• Vigilance Nagar: Rs 600 per sq.ft (2024)
• Venkateshwara Nagar: Rs 800 per sq.ft (2024)
• Thirunagar: Rs 450 per sq.ft (2024)
• Sundrapuram: Rs 600 per sq.ft (2024)
• Sri Nagar: Rs 450 per sq.ft (2024)

Stamp duty and registration fee for property in Vgp New Gold Avenue

For a 1,000 sq.ft plot at the current rate of Rs 605 per sq.ft, the guideline value amounts to Rs 6,05,000. The stamp duty at 7% would be Rs 42,350, and the registration fee at 2% would be Rs 12,100, bringing the total to Rs 54,450. 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 details.

Which Sub Registrar Office covers Vgp New Gold Avenue?

The Vgp New Gold Avenue is covered by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kalivanthapattu. It serves as a baseline for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the government receives the correct revenue from property transactions. Buyers and sellers should be aware of these values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Vgp New Gold Avenue?

The current guideline value of Vgp New Gold Avenue is Rs 605 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 605 per sq.ft in 2024.

What is the land classification for Vgp New Gold Avenue?

The land classification for Vgp New Gold Avenue is Commercial Class I Type - II.

Where is the Thiruporur Sub Registrar Office located?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

How is the stamp duty calculated based on the guideline value?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,05,000, the stamp duty at 7% would be Rs 42,350.