Guideline Value for VIP CITY in SMA GREEN GARDEN

VIP CITY in SMA GREEN GARDEN guideline value

The current guideline value of VIP CITY in SMA GREEN GARDEN is Rs 200 per sq.ft, effective from 1 July 2024. This property is located in Surai village, under the Madurandakam SRO, and is classified as Residential Special Type - I.

How the guideline value of VIP CITY in SMA GREEN GARDEN has changed

The guideline value for VIP CITY in SMA GREEN GARDEN has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 200 per sq.ft, which remains unchanged from the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 134 per sq.ft, reflecting a significant increase of 49% from 2017 to 2023. The 2012 revision also set the value at Rs 200 per sq.ft, indicating a decrease of 33% from the 2012 figure to the 2017 figure. Overall, from the 2012 revision to the 2024 revision, the guideline value has not changed.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. The consistent guideline value of Rs 200 per sq.ft across the 2023 and 2024 revisions indicates stability in the property valuation for this area.

Guideline values in Surai

In Surai village, there are six streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 200 per sq.ft. The median guideline value for these streets is Rs 151 per sq.ft, placing VIP CITY in SMA GREEN GARDEN above that median.

• Temple View City: Rs 101 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 200 per sq.ft (2024)
• Santuary: Rs 100 per sq.ft (2024)
• Indira Ranga Plots: Rs 100 per sq.ft (2024)
• "arunachala Eswarar Nagar": Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in VIP CITY in SMA GREEN GARDEN

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is charged at 7%, which would be Rs 14,000, and the registration fee at 2% amounts to Rs 4,000. Therefore, the total cost for stamp duty and registration would be Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers VIP CITY in SMA GREEN GARDEN?

The Sub Registrar Office that covers VIP CITY in SMA GREEN GARDEN 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 Surai

The guideline value plays a crucial role in the registration process when buying or selling property in Surai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with the local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct amount of revenue based on the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of VIP CITY in SMA GREEN GARDEN?

The current guideline value of VIP CITY in SMA GREEN GARDEN is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a notable increase from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023. There are no figures for the years 2002, 2003, and 2007.

What are the other streets in Surai and their guideline values?

Other streets in Surai include Temple View City at Rs 101 per sq.ft, Sri Venkateshwara Nagar at Rs 200 per sq.ft, Santuary at Rs 100 per sq.ft, Indira Ranga Plots at Rs 100 per sq.ft, and "arunachala Eswarar Nagar" at Rs 200 per sq.ft.

How is stamp duty calculated for properties in VIP CITY in SMA GREEN GARDEN?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at 7%, plus a registration fee of Rs 4,000 at 2%, totaling Rs 18,000.

Where can I find the Sub Registrar Office for VIP CITY in SMA GREEN GARDEN?

The Sub Registrar Office for VIP CITY in SMA GREEN GARDEN is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.