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Guideline Value

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Guideline Value for V.G.P. 2ND MAIN ROAD IIND PART

₹5500/sq.ft.

The guideline value for V.g.p. 2nd Main Road Iind 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. 2nd Main Road Iind Part

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V.G.P. 2nd Main Road Iind Part guideline value

The current guideline value for V.G.P. 2nd Main Road Iind Part is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, classified as Residential Special Type - III.

How the guideline value of V.G.P. 2nd Main Road Iind Part has changed

The guideline value for V.G.P. 2nd Main Road Iind Part has seen several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which was then reduced to Rs 3,350 per sq.ft in the 2017 revision. Following this, the value increased to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, the guideline value has increased by 10% from 2012 to 2024. The register has no figures for the years 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. 2nd Main Road Iind Part is above this median.

Stamp duty and registration fee for property in V.G.P. 2nd Main Road Iind 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, resulting in a total of 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 calculate your own fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.P. 2nd Main Road Iind Part?

The V.G.P. 2nd Main Road Iind 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 an essential factor during the registration of property transactions in Palavakkam. It serves as a benchmark for determining stamp duty and registration fees, ensuring that these charges are calculated based on the official valuation of the property.

When buying or selling property, the guideline value helps establish a fair basis for the transaction, providing transparency and consistency in the registration process. Buyers and sellers should be aware of the current guideline value to understand their financial obligations better.

Frequently asked questions

What is the current guideline value for V.G.P. 2nd Main Road Iind Part?

The current guideline value for V.G.P. 2nd Main Road Iind 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. 2nd Main Road Iind Part?

The land classification for V.G.P. 2nd Main Road Iind Part is Residential Special Type - III.

What are the stamp duty and registration fees for property here?

For a property valued at Rs 55,00,000, the stamp duty at 7% is Rs 3,85,000, and the registration fee at 2% is Rs 1,10,000, totaling Rs 4,95,000.

Which office handles registrations for V.G.P. 2nd Main Road Iind Part?

The Neelankarai Sub Registrar Office handles registrations for V.G.P. 2nd Main Road Iind Part, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.