Guideline Value for V.G.P. 4TH MAIN ROAD IIIND PART

V.G.P. 4th Main Road Iiind Part guideline value

The current guideline value for V.G.P. 4th Main Road Iiind Part is Rs 5,500 per sq.ft, effective from 1 July 2024. This street 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. 4th Main Road Iiind Part has changed

The guideline value for V.G.P. 4th Main Road Iiind Part has seen several revisions over the years. In the 2012 revision, the value was set at Rs 5,000 per sq.ft, which was a decrease of 33% from the 2017 figure of Rs 3,350 per sq.ft. The 2023 revision marked an increase to Rs 5,000 per sq.ft, and the most recent 2024 revision has further increased it to Rs 5,500 per sq.ft, reflecting a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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. 4th Main Road Iiind Part is above this median.

• V.G.P. 3rd Main Road Ist Part: Rs 5,500 per sq.ft (2024)
• V.G.P. 4th Main Road Iind Part: Rs 5,500 per sq.ft (2024)
• V.G.P. 3rd Main Road Iind Part: Rs 5,500 per sq.ft (2024)
• V.G.P. 4th Main Road Ist Part: Rs 5,500 per sq.ft (2024)
• V.G.P. 3rd Main Road Iiind Part: Rs 5,500 per sq.ft (2024)
• V.G.P. 5th Main Road Iind Part: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P. 4th 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 a total of Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers V.G.P. 4th Main Road Iiind Part?

The V.G.P. 4th Main Road Iiind 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 is a crucial factor during the registration process when buying or selling property. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for V.G.P. 4th Main Road Iiind Part?

The current guideline value for V.G.P. 4th 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 2023 to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase. It was Rs 3,350 per sq.ft in 2017 and Rs 5,000 per sq.ft in 2012.

What is the land classification for V.G.P. 4th Main Road Iiind Part?

V.G.P. 4th Main Road Iiind Part is classified as Residential Special Type - III. This classification is important for understanding the types of developments allowed in the area.

What are the stamp duty rates for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2% on the same amount.

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 by visiting the relevant link.