Guideline Value for V.G.P. MAIN STREET

V.G.P. Main Street guideline value

The current guideline value of V.G.P. Main Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village under the Neelankarai SRO and is classified as Residential Special Type - III.

How the guideline value of V.G.P. Main Street has changed

The guideline value register for V.G.P. Main Street has undergone several revisions. However, there are no figures available for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision in 2024 sets the guideline value at Rs 5,500 per sq.ft.

Since the 2024 revision is the only figure available, there have been no changes recorded between the revisions for this street. The current value reflects the latest assessment and is indicative of the property's status as of July 2024.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for this area is Rs 2,200 per sq.ft, placing V.G.P. Main Street's value above this median.

• V.G.P. Main Street Extesnion: Rs 5,500 per sq.ft (2024)
• V.G.P. Murbi Street: Rs 5,500 per sq.ft (2024)
• V.G.P. Murbi Street, Ammal Joint Street: Rs 5,500 per sq.ft (2024)
• V.G.P. Prasad Street: Rs 5,500 per sq.ft (2024)
• V.G.P. Raja Street: Rs 5,500 per sq.ft (2024)
• V.G.P. Golden Beach South 3rd Main Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P. Main Street

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, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers V.G.P. Main Street?

The V.G.P. Main Street falls under the jurisdiction of the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. For further assistance, you can find your SRO.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a critical factor in property transactions, as it determines the minimum value for which a property can be registered. When buying or selling property in Sholinganallur - 1, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. This value serves as a benchmark for the financial aspects of property transactions in the region.

Frequently asked questions

What is the current guideline value of V.G.P. Main Street?

The current guideline value of V.G.P. Main Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

What land classification does V.G.P. Main Street fall under?

V.G.P. Main Street is classified as Residential Special Type - III under the Neelankarai SRO.

Have there been any changes in the guideline value for V.G.P. Main Street?

There have been no changes in the guideline value for V.G.P. Main Street between the revisions, with the most recent figure being Rs 5,500 per sq.ft from the 2024 revision.

What is the median guideline value for streets in Sholinganallur - 1?

The median guideline value for streets in Sholinganallur - 1 is Rs 2,200 per sq.ft, with V.G.P. Main Street's value being above this median.

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.