Guideline Value for V.G.N. NAGAR MAIN ROAD

V.G.N. Nagar Main Road guideline value

The current guideline value of V.G.N. Nagar Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Iyyappanthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of V.G.N. Nagar Main Road has changed

The guideline value for V.G.N. Nagar Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then decreased to Rs 2,010 per sq.ft in 2017. The 2023 revision increased the value back to Rs 3,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has risen by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making V.G.N. Nagar Main Road's 2024 figure above that median.

• V.G.N. Nagar Ist Street: Rs 3,300 per sq.ft (2024)
• V.G.N. Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• V.G.N. Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• V.G.N. Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• V.G.N. Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• V.G.N. Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.N. Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.N. Nagar Main Road?

The Sub Registrar Office that covers V.G.N. Nagar Main Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Iyyappanthangal. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price as per the government standards.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of V.G.N. Nagar Main Road?

The current guideline value of V.G.N. Nagar Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing fluctuations over the years.

What is the median guideline value in Iyyappanthangal?

The median guideline value for the 134 streets in Iyyappanthangal is Rs 2,200 per sq.ft, with V.G.N. Nagar Main Road's value being above this median.

What are the stamp duty and registration fees for properties in V.G.N. Nagar Main Road?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for V.G.N. Nagar Main Road?

The Chennai South Joint I Sub Registrar Office handles registrations for V.G.N. Nagar Main Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.