Guideline Value for V.G.N. NAGAR 5TH STREET

V.G.N. Nagar 5th Street guideline value

The current guideline value of V.G.N. Nagar 5th 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 5th Street has changed

Over the years, the guideline value for V.G.N. Nagar 5th Street has seen significant changes. In the 2007 revision, the value was Rs 837 per sq.ft. This figure increased dramatically to Rs 3,000 per sq.ft in the 2012 revision, marking a rise of 258%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%. The subsequent revision in 2023 set the value at 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, the guideline value has increased from Rs 837 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 294%. 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 guideline value for 2024, ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, making the current value of V.G.N. Nagar 5th Street above this median.

• V.G.N. Nagar 4th 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 3rd Street: Rs 3,300 per sq.ft (2024)
• V.G.N. Nagar Ist 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 Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.N. Nagar 5th 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 amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers V.G.N. Nagar 5th Street?

The Sub Registrar Office that covers V.G.N. Nagar 5th 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 during the registration of property transactions in Iyyappanthangal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs associated with the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of V.G.N. Nagar 5th Street?

The current guideline value of V.G.N. Nagar 5th 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 significantly from Rs 837 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with various revisions in between.

What is the land classification for V.G.N. Nagar 5th Street?

The land classification for V.G.N. Nagar 5th Street is Residential Special Type - I.

What are the stamp duty and registration fees for properties on this street?

For a property valued at the current guideline value of Rs 3,300 per sq.ft, the total stamp duty and registration fees would amount to Rs 2,97,000 for a 1,000 sq.ft plot.

Which office handles registrations for V.G.N. Nagar 5th Street?

The Chennai South Joint I Sub Registrar Office handles registrations for V.G.N. Nagar 5th Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.