Guideline Value for V.G.N. NAGAR 4TH STREET

V.G.N. Nagar 4th Street guideline value

The current guideline value of V.G.N. Nagar 4th 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 4th Street has changed

The guideline value for V.G.N. Nagar 4th Street has seen several revisions over the years. In 2007, the guideline value was Rs 837 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this value dropped to Rs 2,010 per sq.ft in 2017. The next revision in 2023 raised it to Rs 3,000 per sq.ft, and the most recent revision in 2024 set it at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, 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 have a guideline value for 2024, 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, placing V.G.N. Nagar 4th Street above this median.

• V.G.N. Nagar 3rd 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 2nd 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: 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 4th Street

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 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 use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.G.N. Nagar 4th Street?

The Sub Registrar Office that covers V.G.N. Nagar 4th 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 critical factor in the registration process when buying or selling property in Iyyappanthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair estimate of the property's worth.

When registering a property, buyers and sellers must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures compliance with local regulations and helps avoid any legal issues during the transaction.

Frequently asked questions

What is the current guideline value of V.G.N. Nagar 4th Street?

The current guideline value of V.G.N. Nagar 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 837 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 294% over this period.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in V.G.N. Nagar 4th Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for V.G.N. Nagar 4th Street?

The Sub Registrar Office for V.G.N. Nagar 4th 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.

How is the guideline value determined for properties in Iyyappanthangal?

The guideline value is determined based on various factors, including land classification and the values set by the registration department. It serves as a reference point for property transactions in the area.