Guideline Value

Corporate

Guideline Value for V.G.P. 1ST MAIN ROAD IIIND PART

₹5500/sq.ft.

The guideline value for V.g.p. 1st Main Road Iiind Part in Palavakkam village (Neelankarai SRO, Chennai zone) is Rs 5500 per sq.ft, effective 1 July 2024. It was Rs 5000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Palavakkam

Village

Neelankarai

SRO

Residential Special Type - III
History
Period Guideline Value
From 1-7-2024 ₹5500 /sq.ft.
From 1-4-2023 ₹5000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3350 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on V.g.p. 1st Main Road Iiind Part

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

V.G.P. 1st Main Road Iiind Part guideline value

The current guideline value of V.G.P. 1st Main Road Iiind Part is Rs 5,500 per sq.ft, effective from 1 July 2024. This property is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Special Type - III.

How the guideline value of V.G.P. 1st Main Road Iiind Part has changed

The guideline value for V.G.P. 1st Main Road Iiind Part has seen several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which then decreased to Rs 3,350 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 5,000 per sq.ft, leading to a further increase to Rs 5,500 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The 49% increase from 2017 to 2023 indicates a significant adjustment in value over that period. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 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 3,300 per sq.ft. The guideline value for V.G.P. 1st Main Road Iiind Part is notably above this median.

Stamp duty and registration fee for property in V.G.P. 1st Main Road Iiind Part

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total charges Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers V.G.P. 1st Main Road Iiind Part?

The V.G.P. 1st Main Road Iiind Part 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. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property transactions in Palavakkam. It serves as a reference point for determining the stamp duty and registration fees that must be paid when buying or selling property. The actual sale price or the guideline value, whichever is higher, will be used to calculate these fees.

When registering a property, the guideline value helps ensure that the transaction is recorded accurately and transparently. It is essential for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for V.G.P. 1st Main Road Iiind Part?

The current guideline value for V.G.P. 1st Main Road Iiind Part is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then increased to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification for V.G.P. 1st Main Road Iiind Part?

The land classification for V.G.P. 1st Main Road Iiind Part is Residential Special Type - III.

Which Sub Registrar Office covers this area?

The Neelankarai Sub Registrar Office covers V.G.P. 1st Main Road Iiind Part, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 3,85,000.