Guideline Value for VGP ROYAL SPRINGS

Vgp Royal Springs guideline value

The current guideline value of Vgp Royal Springs is Rs 202 per sq.ft, effective from 1 July 2024. This property is located in Endathure village, under the Madurandakam SRO, with a land classification of Mixed Type - I.

How the guideline value of Vgp Royal Springs has changed

The guideline value for Vgp Royal Springs has seen several revisions over the years. In the 2012 revision, the rate was Rs 200 per sq.ft, which then decreased to Rs 134 per sq.ft in 2017. Following this, the value increased significantly to Rs 200 per sq.ft in the 2023 revision, and currently stands at Rs 202 per sq.ft from the 2024 revision, marking a 1% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 1%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Endathure

In Endathure village, there are six streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 202 per sq.ft, with a median value of Rs 100 per sq.ft. Vgp Royal Springs' 2024 guideline value is above this median.

• Sakthi Nagar: Rs 100 per sq.ft (2024)
• Mullai Nagar: Rs 100 per sq.ft (2024)
• Madura Nagar: Rs 100 per sq.ft (2024)
• K.K.Nagar: Rs 100 per sq.ft (2024)
• Diamond City: Rs 201 per sq.ft (2024)

Stamp duty and registration fee for property in Vgp Royal Springs

For a 1,000 sq.ft plot at the current guideline value of Rs 202 per sq.ft, the total guideline value would be Rs 2,02,000. The stamp duty at 7% would amount to Rs 14,140, and the registration fee at 2% would be Rs 4,040, bringing the total to Rs 18,180. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vgp Royal Springs?

The Sub Registrar Office that covers Vgp Royal Springs is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Endathure. It determines the minimum value at which property can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware of these values to ensure compliance with local regulations and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Vgp Royal Springs?

The current guideline value of Vgp Royal Springs is Rs 202 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then increased to Rs 200 per sq.ft in 2023, and is currently Rs 202 per sq.ft in 2024.

What is the land classification for Vgp Royal Springs?

Vgp Royal Springs is classified as Mixed Type - I, which indicates the type of land use and development permitted in the area.

What is the registration office for Vgp Royal Springs?

The registration office for Vgp Royal Springs is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Vgp Royal Springs?

Stamp duty for properties in Vgp Royal Springs is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 14,140.