Guideline Value

Corporate

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

₹5500/sq.ft.

The guideline value for V.g.p. 4th Main Road Ist 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. 4th Main Road Ist Part

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

The current guideline value for V.G.P. 4th Main Road Ist 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 Ist Part has changed

The guideline value for V.G.P. 4th Main Road Ist Part has undergone several revisions since 2012. In 2012, the value was Rs 5,000 per sq.ft, which decreased to Rs 3,350 per sq.ft in 2017. Following this, the value increased significantly to Rs 5,000 per sq.ft in 2023, and then to Rs 5,500 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%, while the overall change from 2012 to 2024 shows a 10% increase. It is important to note that 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 have 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 Ist Part is above this median.

Stamp duty and registration fee for property in V.G.P. 4th Main Road Ist 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 fees together to 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 Ist Part?

The V.G.P. 4th Main Road Ist 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 when it comes to the registration of property transactions in Palavakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is checked against the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value for V.G.P. 4th Main Road Ist 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.

Which Sub Registrar Office should I visit for transactions in V.G.P. 4th Main Road Ist Part?

The Neelankarai Sub Registrar Office covers transactions for V.G.P. 4th Main Road Ist Part. The office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 55,00,000, the stamp duty is Rs 3,85,000 and the registration fee is Rs 1,10,000, totaling Rs 4,95,000. These fees are based on the higher of the guideline value or the sale price.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value for properties, ensuring that the government receives the correct revenue through stamp duty and registration fees. It is essential for buyers and sellers to be aware of this value during transactions.