Guideline Value for VGP Ramanujar Town Part I to IV

VGP Ramanujar Town Part I to IV guideline value

The current guideline value for VGP Ramanujar Town Part I to IV is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Vada Mangalam village and falls under the Sunguvarchattram SRO. The land classification for this property is Residential Special Type - I.

How the guideline value of VGP Ramanujar Town Part I to IV has changed

The guideline value for VGP Ramanujar Town has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 400 per sq.ft. The 2017 revision had a lower figure of Rs 268 per sq.ft, indicating a decrease of 33% from the 2012 value. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 400 per sq.ft. Overall, from the 2012 revision to the 2024 revision, the guideline value remains unchanged at Rs 400 per sq.ft, showing stability in the recent revisions.

Guideline values in Vada Mangalam

In Vada Mangalam, there are 23 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for VGP Ramanujar Town Part I to IV is above this median.

• Thriuvalluvar Street: Rs 200 per sq.ft (2024)
• Srinivasa Nagar: Rs 400 per sq.ft (2024)
• SriLakshi Nagar: Rs 350 per sq.ft (2024)
• Sanarpandai Muslim Kudiiruppu: Rs 250 per sq.ft (2024)
• Periyapallaiyathamman Kovil Street: Rs 200 per sq.ft (2024)
• N.S.K Salai: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in VGP Ramanujar Town Part I to IV

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers VGP Ramanujar Town Part I to IV?

The Sub Registrar Office that covers VGP Ramanujar Town Part I to IV is the Sunguvarchattram Sub Registrar Office. The address is Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Vada Mangalam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during registration.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for VGP Ramanujar Town Part I to IV?

The current guideline value for VGP Ramanujar Town Part I to IV is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2012 to 2024, with a decrease to Rs 268 per sq.ft in 2017, and a return to Rs 400 per sq.ft in 2023.

What are the other streets in Vada Mangalam?

Other streets in Vada Mangalam include Thriuvalluvar Street, Srinivasa Nagar, SriLakshi Nagar, Sanarpandai Muslim Kudiiruppu, Periyapallaiyathamman Kovil Street, and N.S.K Salai, with varying guideline values.

Where is the Sunguvarchattram Sub Registrar Office located?

The Sunguvarchattram Sub Registrar Office is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in VGP Ramanujar Town?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 at a rate of 7%.