Guideline Value for VSP SUN SHINE PHASE I

Vsp Sun Shine Phase I guideline value

The current guideline value of Vsp Sun Shine Phase I is Rs 1,800 per sq.ft, effective from 1 July 2024. This property is located in Kalvai village under the Thiruporur SRO, classified as Mixed Type - II land.

How the guideline value of Vsp Sun Shine Phase I has changed

The guideline value for Vsp Sun Shine Phase I has undergone several revisions over the years. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 900 per sq.ft, which increased to Rs 1,800 per sq.ft in the 2024 revision, marking a significant change of +100%.

This increase reflects a substantial adjustment in property valuation within the area. The current figure of Rs 1,800 per sq.ft is now above the median guideline value of Rs 1,000 per sq.ft for the 31 streets in Kalvai under the Thiruporur SRO.

Guideline values in Kalvai

In Kalvai, the guideline values for 2024 range from Rs 400 to Rs 3,000 per sq.ft. The current guideline value of Vsp Sun Shine Phase I is higher than the median value of Rs 1,000 per sq.ft. Below are the guideline values for other streets in Kalvai:

• Vanavil Arundhathi Avenue: Rs 1,000 per sq.ft (2024)
• Sri Yohan City: Rs 600 per sq.ft (2024)
• Sri Vengadeshwara Nagar: Rs 400 per sq.ft (2024)
• Sri Sathiya Sai Nagar: Rs 400 per sq.ft (2024)
• Sri Sainathapuram: Rs 1,000 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Vsp Sun Shine Phase I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value would be Rs 18,00,000. The stamp duty at 7% would amount to Rs 1,26,000, and the registration fee at 2% would be Rs 36,000. Together, the total cost for these fees would be Rs 1,62,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vsp Sun Shine Phase I?

The Vsp Sun Shine Phase I property is covered by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kalvai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller engages in a transaction, the guideline value ensures that the property is assessed fairly for taxation purposes. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Vsp Sun Shine Phase I?

The current guideline value of Vsp Sun Shine Phase I is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2023 to Rs 1,800 per sq.ft in 2024, reflecting a 100% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Vsp Sun Shine Phase I?

Vsp Sun Shine Phase I is classified as Mixed Type - II land, which can affect the usage and development of the property.

What are the stamp duty and registration fees for property in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 18,00,000, the total fees would amount to Rs 1,62,000.

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.