Guideline Value for VIP CITY IN LIFE ON GREEN

Vip City In Life On Green guideline value

The current guideline value of Vip City In Life On Green is Rs 1,642 per sq.ft, effective from 1 July 2024. This property is located in Vengaleery village, under the Thiruporur SRO, and is classified as Mixed Type - II land.

How the guideline value of Vip City In Life On Green has changed

The guideline value for Vip City In Life On Green has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 1,642 per sq.ft, which is an increase of 10% from the previous year's value of Rs 1,493 per sq.ft established in the 2023 revision. Prior to these revisions, the register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value has increased from Rs 1,493 per sq.ft in 2023 to Rs 1,642 per sq.ft in 2024. The earlier revisions do not provide any figures for this street, indicating a lack of recorded changes in the guideline value for those years.

Guideline values in Vengaleery

In Vengaleery, the guideline value for Vip City In Life On Green is Rs 1,642 per sq.ft as of 2024. This places it among other streets in the area, which have varying guideline values. Below are the guideline values for other streets in Vengaleery:

• Palm Avenue: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vip City In Life On Green

For a 1,000 sq.ft plot at the current guideline value of Rs 1,642 per sq.ft, the total guideline value would be Rs 16,42,000. The stamp duty at 7% would amount to Rs 1,14,940, and the registration fee at 2% would be Rs 32,840. Together, these fees total Rs 1,47,780. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vip City In Life On Green?

The Vip City In Life On Green falls under the jurisdiction of the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Vengaleery. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, the guideline value helps both parties understand the minimum value that will be considered for taxation purposes. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vip City In Life On Green?

The current guideline value of Vip City In Life On Green is Rs 1,642 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,493 per sq.ft in 2023 to Rs 1,642 per sq.ft in 2024, reflecting a 10% increase. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002.

What is the stamp duty for a property in Vip City In Life On Green?

The stamp duty for a property in Vip City In Life On Green is calculated at 7% of the guideline value. For example, on a property valued at Rs 16,42,000, the stamp duty would amount to Rs 1,14,940.

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. This office handles all registrations for properties in the area.

How is the guideline value used in property transactions?

The guideline value is used as a basis for calculating stamp duty and registration fees during property transactions. It ensures that both buyers and sellers are aware of the minimum value for taxation purposes, promoting transparency in the process.