Guideline Value for V.G.N. NAGAR 3RD STREET

V.G.N. Nagar 3rd Street guideline value

The current guideline value of V.G.N. Nagar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street 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 3rd Street has changed

The guideline value for V.G.N. Nagar 3rd Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 837 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 258%. However, the value then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 saw the guideline value increase to Rs 3,000 per sq.ft, followed by a further increase to Rs 3,300 per sq.ft in 2024, reflecting a 10% rise.

In summary, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 294%. It is important to note that the register has no figures for the years 2002 and 2003 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, with a median value of Rs 2,200 per sq.ft. The guideline value of V.G.N. Nagar 3rd Street is above this median.

• V.G.N. Nagar 2nd 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: 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 3rd 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.G.N. Nagar 3rd Street?

The V.G.N. Nagar 3rd Street is covered by 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 plays a crucial role in property transactions in Iyyappanthangal. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded at a value that reflects the official rates set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs involved in the registration process. This value is updated periodically, and staying informed about these changes can help in making better financial decisions during property transactions.

Frequently asked questions

What is the current guideline value of V.G.N. Nagar 3rd Street?

The current guideline value of V.G.N. Nagar 3rd Street 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 837 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 294% over the years.

What are the stamp duty and registration fees for properties in V.G.N. Nagar 3rd Street?

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 Sub Registrar Office covers V.G.N. Nagar 3rd Street?

The Chennai South Joint I Sub Registrar Office covers V.G.N. Nagar 3rd 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 3rd Street?

The land classification for V.G.N. Nagar 3rd Street is Residential Special Type - I, indicating its designated use for residential purposes.