Guideline Value for V.G.N. NAGAR 2ND STREET

V.G.N. Nagar 2nd Street guideline value

The current guideline value of V.G.N. Nagar 2nd Street, located in Iyyappanthangal village, is Rs 3,300 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Special Type - I.

How the guideline value of V.G.N. Nagar 2nd Street has changed

The guideline value for V.G.N. Nagar 2nd Street has seen several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 837 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 258% rise. However, from 2012 to 2017, there was a decrease to Rs 2,010 per sq.ft, a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and most recently to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 294%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Iyyappanthangal

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

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

Stamp duty and registration fee for property in V.G.N. Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be 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 the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers V.G.N. Nagar 2nd Street?

The Sub Registrar Office that covers V.G.N. Nagar 2nd Street 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Iyyappanthangal. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in accordance with government regulations.

When a property is sold, the guideline value helps in determining the minimum value at which the property can be registered. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of V.G.N. Nagar 2nd Street?

The current guideline value of V.G.N. Nagar 2nd Street is Rs 3,300 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 837 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 294% over the years.

What is the stamp duty for property in V.G.N. Nagar 2nd Street?

The stamp duty for property in V.G.N. Nagar 2nd Street is calculated at 7% of the guideline value, which amounts to Rs 2,31,000 for a 1,000 sq.ft plot at the current rate.

Which Sub Registrar Office covers V.G.N. Nagar 2nd Street?

The Chennai South Joint I Sub Registrar Office covers V.G.N. Nagar 2nd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for V.G.N. Nagar 2nd Street?

V.G.N. Nagar 2nd Street is classified as Residential Special Type - I under the Chennai South Joint I SRO.