Guideline Value for V.G.P. SOUTH PART VI

V.G.P. South Part VI guideline value

The current guideline value for V.G.P. South Part VI is Rs 5,500 per sq.ft. This property is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of V.G.P. South Part VI has changed

As per the guideline value register, there are no figures available for the years 2002, 2003, 2007, 2012, 2017, and 2023 for V.G.P. South Part VI. The most recent revision is from 2024, where the guideline value is set at Rs 5,500 per sq.ft.

The 2024 revision marks the first recorded guideline value for this street. There have been no changes between the revisions listed above.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for V.G.P. South Part VI is above this median.

• V.G.P. South Part V: Rs 5,500 per sq.ft (2024)
• V.G.P. South Part - VII: Rs 5,500 per sq.ft (2024)
• V.G.P. South Part IV: Rs 5,500 per sq.ft (2024)
• V.G.P. South Part - VIII: Rs 5,500 per sq.ft (2024)
• V.G.P. South Part III: Rs 5,500 per sq.ft (2024)
• V.G.P. South Part II: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P. South Part VI

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.P. South Part VI?

The V.G.P. South Part VI is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. This value is used by the registration authorities to calculate stamp duty and registration fees, ensuring that these charges reflect the official valuation of the property.

When buying or selling property in Sholinganallur - 1, it is essential to be aware of the guideline value as it can influence the overall cost of the transaction. Buyers should ensure that they understand the implications of the guideline value on their financial commitments during the registration process.

Frequently asked questions

What is the current guideline value for V.G.P. South Part VI?

The current guideline value for V.G.P. South Part VI is Rs 5,500 per sq.ft, effective from 1 July 2024.

What is the land classification for V.G.P. South Part VI?

The land classification for V.G.P. South Part VI is Residential Special Type - III.

What are the other streets with the same guideline value in Sholinganallur - 1?

Other streets in Sholinganallur - 1 that share the same guideline value of Rs 5,500 per sq.ft include V.G.P. South Part V, V.G.P. South Part - VII, V.G.P. South Part IV, V.G.P. South Part - VIII, V.G.P. South Part III, and V.G.P. South Part II.

How is stamp duty calculated for properties in V.G.P. South Part VI?

Stamp duty for properties in V.G.P. South Part VI is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can also find more information online.