Guideline Value for V.G.P Mathina Nagar Road

V.G.P Mathina Nagar Road guideline value

The current guideline value of V.G.P Mathina Nagar Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This road is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of V.G.P Mathina Nagar Road has changed

The guideline value for V.G.P Mathina Nagar Road has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, which is an increase from Rs 2,500 per sq.ft in 2023, marking an 8% rise. Prior to that, the 2017 revision recorded a value of Rs 1,675 per sq.ft, reflecting a significant increase of 49% from the previous revision in 2012, which was Rs 2,500 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 8%. The changes between revisions indicate fluctuations, with the 2012 to 2017 period showing a decrease of 33% before the subsequent increases in the following years.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft, placing V.G.P Mathina Nagar Road above this median.

• V.G.P. Mathina Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• V.G.P. Mathina Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar North 1st Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar North 2nd Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar North 3rd Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar North 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P Mathina Nagar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers V.G.P Mathina Nagar Road?

The Sub Registrar Office covering V.G.P Mathina Nagar Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Rajakilpakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Rajakilpakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties. This ensures that both buyers and sellers are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of V.G.P Mathina Nagar Road?

The current guideline value of V.G.P Mathina Nagar Road is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification for V.G.P Mathina Nagar Road?

V.G.P Mathina Nagar Road is classified as Residential Special Type - I, which determines its use and development potential.

What is the registration office for V.G.P Mathina Nagar Road?

The Selaiyur Sub Registrar Office covers V.G.P Mathina Nagar Road, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for properties in V.G.P Mathina Nagar Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,89,000.