Guideline Value for V.G.N. NAGAR IST STREET

V.G.N. Nagar Ist Street guideline value

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

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

The guideline value for V.G.N. Nagar Ist Street has seen several revisions over the years. In 2007, the value was set at Rs 837 per sq.ft, which 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 drop of 33%. The value then increased sharply to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this 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 value is Rs 2,200 per sq.ft, placing V.G.N. Nagar Ist Street's 2024 figure above this median.

• V.G.N. Nagar 6th 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 5th 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 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 Ist Street

For a 1,000 sq.ft plot at the current rate 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. For more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers V.G.N. Nagar Ist 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 details.

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 determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the buyer must pay the stamp duty 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 Ist Street?

The current guideline value of V.G.N. Nagar Ist 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, marking an overall increase of 294% over the years.

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

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

What are the stamp duty and registration fees for property in V.G.N. Nagar Ist Street?

For a 1,000 sq.ft plot 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.

Which Sub Registrar Office covers this street?

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