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Guideline Value

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Guideline Value for V.G.P. 3RD MAIN ROAD IIND PART

₹5500/sq.ft.

The guideline value for V.g.p. 3rd 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. 3rd Main Road Iind Part

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V.G.P. 3rd Main Road Iind Part guideline value

The current guideline value of V.G.P. 3rd Main Road Iind 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. 3rd Main Road Iind Part has changed

The guideline value of V.G.P. 3rd 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, the current value is Rs 5,500 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The value then rose by 10% from 2023 to 2024, resulting in an overall increase of 10% from 2012 to 2024.

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. The median value is Rs 3,300 per sq.ft, making the 2024 figure for V.G.P. 3rd Main Road Iind Part above this median.

Stamp duty and registration fee for property in V.G.P. 3rd 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, bringing the total to 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.P. 3rd Main Road Iind Part?

The V.G.P. 3rd Main Road Iind Part falls under 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 details.

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

The guideline value plays a crucial role in property transactions in Palavakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any issues during registration.

Frequently asked questions

What is the current guideline value of V.G.P. 3rd Main Road Iind Part?

The current guideline value of V.G.P. 3rd Main Road Iind Part is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2023 to Rs 5,500 per sq.ft in 2024, marking a 10% increase. It was Rs 3,350 per sq.ft in 2017, which shows a 49% increase from the previous revision.

What is the land classification for V.G.P. 3rd Main Road Iind Part?

V.G.P. 3rd Main Road Iind Part is classified as Residential Special Type - III, indicating its suitability for residential purposes.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is 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 at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would amount to Rs 3,85,000.