Guideline Value

Corporate

Guideline Value for V.G.P. BABU NAGAR

₹2750/sq.ft.

The guideline value for V.g.p. Babu Nagar in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Commercial Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1346 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹178 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹146 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[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. Babu Nagar

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V.G.P. Babu Nagar guideline value

The current guideline value of V.G.P. Babu Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this street is Commercial Class I Type - III.

How the guideline value of V.G.P. Babu Nagar has changed

The guideline value for V.G.P. Babu Nagar has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 146 per sq.ft. This figure increased to Rs 178 per sq.ft in 2003, marking a change of +22%. Following this, the value surged significantly to Rs 1,346 per sq.ft in 2007, reflecting a substantial increase of +656%. In 2012, the guideline value adjusted to Rs 2,500 per sq.ft, which was a decrease of -33% from the previous revision.

In 2017, the guideline value rose to Rs 1,675 per sq.ft, an increase of +49%. The most recent revisions include Rs 2,500 per sq.ft in 2023 and the current value of Rs 2,750 per sq.ft in 2024, which is an increase of +10%. Overall, from 2002 to 2024, the guideline value has increased by +1784%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing V.G.P. Babu Nagar's 2024 figure above that median.

Stamp duty and registration fee for property in V.G.P. Babu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total fees Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.P. Babu Nagar?

The Sub Registrar Office that covers V.G.P. Babu Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees during the purchase or sale of property. Buyers and sellers should be aware that the guideline value is used to calculate the total fees payable at the time of registration.

When a property is sold, the sale price is compared to the guideline value. The higher of the two figures is used to determine the applicable stamp duty and registration fees, ensuring that the fees reflect the true value of the transaction.

Frequently asked questions

What is the current guideline value of V.G.P. Babu Nagar?

The current guideline value of V.G.P. Babu Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 146 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +1784% over this period.

What is the land classification for V.G.P. Babu Nagar?

The land classification for V.G.P. Babu Nagar is Commercial Class I Type - III.

What are the stamp duty and registration fees for a property in V.G.P. Babu Nagar?

For a 1,000 sq.ft property, the total guideline value is Rs 27,50,000, with stamp duty at Rs 1,92,500 and registration fee at Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers V.G.P. Babu Nagar?

The Chennai South Joint I Sub Registrar Office covers V.G.P. Babu Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.