Guideline Value for V.G.P. MURBI STREET, AMMAL JOINT STREET

V.G.P. Murbi Street, Ammal Joint Street guideline value

The current guideline value of V.G.P. Murbi Street, Ammal Joint Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Sholinganallur - 1 village under the Neelankarai SRO, and it falls under the Residential Special Type - III land classification.

How the guideline value of V.G.P. Murbi Street, Ammal Joint Street has changed

Over the years, the guideline value of V.G.P. Murbi Street has seen significant changes. The 2017 revision recorded a guideline value of Rs 3,350 per sq.ft, which increased to Rs 5,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision set the value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

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 these streets is Rs 2,200 per sq.ft, indicating that V.G.P. Murbi Street's 2024 figure is above this median.

• V.G.P. Murbi Street: Rs 5,500 per sq.ft (2024)
• V.G.P. Main Street Extension: Rs 5,500 per sq.ft (2024)
• V.G.P. Main 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. Murbi Street, Ammal Joint Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the 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, making the total 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.

Which Sub Registrar Office covers V.G.P. Murbi Street, Ammal Joint Street?

The V.G.P. Murbi Street, Ammal Joint Street is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is used to calculate the applicable duties based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

The guideline value has increased from Rs 3,350 per sq.ft in 2017 to Rs 5,500 per sq.ft in 2024, marking a total increase of 64% over the period.

What is the land classification for V.G.P. Murbi Street?

V.G.P. Murbi Street falls under the Residential Special Type - III land classification.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 and a registration fee of Rs 1,10,000.