Guideline Value for V.G.P. MURBI STREET

V.G.P. Murbi Street guideline value

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

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

The guideline value register shows that there are no figures for V.G.P. Murbi Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 5,500 per sq.ft.

Since there are no other figures listed, it can be concluded that there have been no changes in the guideline value for this street over the years. The current figure is the only one available for reference.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are a total of 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of V.G.P. Murbi Street is above this median.

• V.G.P. Main Street Extesnion: 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. 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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be 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 cost for these fees Rs 4,95,000. Duty is charged on the higher of the guideline value and the sale price.

You can calculate the exact fees using the stamp duty and registration fee calculator.

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

The V.G.P. Murbi 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. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Sholinganallur - 1, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees applicable to the transaction.

It is essential to refer to the current guideline value when planning a property purchase or sale, as it ensures compliance with the legal requirements set by the Registration Department. This value serves as a benchmark for both buyers and sellers during negotiations.

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 has the guideline value changed over the years?

There are no figures available for V.G.P. Murbi Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 5,500 per sq.ft.

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

The land classification for V.G.P. Murbi Street is Residential Special Type - III.

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 registration zone.

How is the stamp duty calculated for properties in V.G.P. Murbi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 3,85,000.