Guideline Value for VGP Vinoth Town

VGP Vinoth Town guideline value

The current guideline value of VGP Vinoth Town, located in Palnalloor village under the Sunguvarchattram SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class II Type - I land classification.

How the guideline value of VGP Vinoth Town has changed

Over the years, the guideline value of VGP Vinoth Town has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 75 per sq.ft. This increased to Rs 200 per sq.ft in 2012, marking a significant rise of 167%. However, the value then decreased to Rs 134 per sq.ft in 2017, which was a reduction of 33%. The subsequent revision in 2023 maintained the value at Rs 200 per sq.ft, and the latest revision in 2024 also holds the value steady at Rs 200 per sq.ft, indicating no change from the previous year.

Notably, the overall change from the 2007 revision to the 2024 revision reflects an increase of 167%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Palnalloor

In Palnalloor, there are 34 streets under the Sunguvarchattram SRO with a guideline value for 2024 ranging from Rs 175 to Rs 471 per sq.ft. The median value is Rs 200 per sq.ft, which is equal to the guideline value of VGP Vinoth Town.

• Vishvakarma Nagar: Rs 200 per sq.ft (2024)
• VMR Anex: Rs 250 per sq.ft (2024)
• VMR Nagar ( I To III ): Rs 250 per sq.ft (2024)
• TV Room Street: Rs 175 per sq.ft (2024)
• Thirumallai Nagar: Rs 200 per sq.ft (2024)
• TheruVeethiamman Kovil Street: Rs 175 per sq.ft (2024)

Stamp duty and registration fee for property in VGP Vinoth Town

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total charges Rs 18,000. It is important to note that 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 Vinoth Town?

The Sub Registrar Office that covers VGP Vinoth Town is the Sunguvarchattram Sub Registrar Office, located at 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 Palnalloor

The guideline value is a crucial factor in the registration process of property transactions in Palnalloor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value influences the calculation of stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of VGP Vinoth Town?

The current guideline value of VGP Vinoth Town is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 75 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreasing to Rs 134 per sq.ft in 2017, and remaining at Rs 200 per sq.ft in 2023 and 2024.

What is the land classification of VGP Vinoth Town?

VGP Vinoth Town falls under the Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for VGP Vinoth Town?

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

How is stamp duty calculated for properties in Palnalloor?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 2,00,000, the stamp duty at 7% would be Rs 14,000.