Guideline Value for V.G.P. Chakra Town - I

V.G.P. Chakra Town - I guideline value

The current guideline value of V.G.P. Chakra Town - I is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Nemili village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of V.G.P. Chakra Town - I has changed

The guideline value for V.G.P. Chakra Town - I has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 100 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a 500% rise. However, in 2017, it dropped to Rs 402 per sq.ft, a decrease of 33%. The value then rose again to Rs 600 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 500%, reflecting the fluctuations over the years.

Guideline values in Nemili

In Nemili, there are 66 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft, with a median value of Rs 250 per sq.ft. V.G.P. Chakra Town - I's 2024 figure of Rs 600 per sq.ft is above this median.

• V.G.P. Chakra Town - II: Rs 600 per sq.ft (2024)
• Venkateswara nagar extn: Rs 250 per sq.ft (2024)
• Venkateswara Nagar: Rs 250 per sq.ft (2024)
• Va.Voo.Si Street: Rs 210 per sq.ft (2024)
• Theru Veedhiyamman Koil Street: Rs 150 per sq.ft (2024)
• Subash Chandrabose Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P. Chakra Town - I

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. Please 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. Chakra Town - I?

The Sub Registrar Office that covers V.G.P. Chakra Town - I is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nemili. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the appropriate fees are collected. Buyers and sellers should be aware of the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of V.G.P. Chakra Town - I?

The current guideline value of V.G.P. Chakra Town - I is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 100 per sq.ft in 2007, increasing to Rs 600 per sq.ft in 2012, dropping to Rs 402 per sq.ft in 2017, and remaining at Rs 600 per sq.ft in 2023 and 2024.

What is the land classification for V.G.P. Chakra Town - I?

V.G.P. Chakra Town - I is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the registration office for V.G.P. Chakra Town - I?

The registration office for V.G.P. Chakra Town - I is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in V.G.P. Chakra Town - I?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft would incur a total guideline value of Rs 6,00,000, leading to a stamp duty of Rs 42,000.