Guideline Value for V.G.N. NAGAR 6TH STREET

V.G.N. Nagar 6th Street guideline value

The current guideline value of V.G.N. Nagar 6th 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 6th Street has changed

The guideline value for V.G.N. Nagar 6th Street has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 837 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, 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 value then rose again to Rs 3,000 per sq.ft in 2023, showing a substantial increase of 49%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for V.G.N. Nagar 6th Street. Overall, from 2007 to 2024, the guideline value has increased by 294%.

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 guideline value in this area is Rs 2,200 per sq.ft, making the 2024 figure for V.G.N. Nagar 6th Street above the median.

• V.G.N. Nagar 5th 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 4th Street: Rs 3,300 per sq.ft (2024)
• V.G.N. Nagar Main Road: 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 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers V.G.N. Nagar 6th Street?

The Sub Registrar Office that covers V.G.N. Nagar 6th 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 when buying or selling property in Iyyappanthangal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

At the time of registration, the stamp duty and registration fees are calculated 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 6th Street?

The current guideline value of V.G.N. Nagar 6th 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 increased from Rs 837 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 294% over the years.

What is the land classification for V.G.N. Nagar 6th Street?

The land classification for V.G.N. Nagar 6th Street is Residential Special Type - I.

Where can I find the Sub Registrar Office for V.G.N. Nagar 6th Street?

The Sub Registrar Office for V.G.N. Nagar 6th Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the total fees would be Rs 2,97,000.