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

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

The current guideline value for V.G.P. Chakra Town - I is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Nemili_B village under the Sriperumpudur SRO, with a land classification of 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 remained consistent at Rs 600 per sq.ft in both the 2023 and 2024 revisions. In contrast, the 2017 revision recorded a lower guideline value of Rs 402 per sq.ft. This indicates a significant increase of 49% from 2017 to 2023, and the overall increase from 2017 to 2024 is also 49%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Therefore, the only revisions with recorded figures are from 2017, 2023, and 2024.

Guideline values in Nemili_B

In Nemili_B, there are 97 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,500 per sq.ft, with the median being Rs 250 per sq.ft. The guideline value for V.G.P. Chakra Town - I is above this median.

• V.G.P. Chakra Town - II: Rs 600 per sq.ft (2024)
• Vigneshwara Nagar: Rs 600 per sq.ft (2024)
• Venkateswara nagar extn: Rs 250 per sq.ft (2024)
• Venkateswara Nagar: Rs 250 per sq.ft (2024)
• Venkatachalam Nagar Extn: Rs 250 per sq.ft (2024)
• Venkatachalam Nagar: Rs 250 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 rate of Rs 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.G.P. Chakra Town - I?

The V.G.P. Chakra Town - I area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property registration in Nemili_B. It is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the government.

When buying or selling property, the guideline value helps in establishing a baseline for the transaction price. It is essential for both buyers and sellers to be aware of this value to understand the financial implications involved in the registration process.

Frequently asked questions

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

The current guideline value for 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 remained at Rs 600 per sq.ft from 2023 to 2024. It increased by 49% from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023.

What are the guideline values for other streets in Nemili_B?

Other streets in Nemili_B have varying guideline values, ranging from Rs 150 to Rs 1,500 per sq.ft. The median value is Rs 250 per sq.ft, while V.G.P. Chakra Town - I is above this median.

What fees are associated with buying property in V.G.P. Chakra Town - I?

When buying property in V.G.P. Chakra Town - I, you will incur a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for V.G.P. Chakra Town - I?

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