Guideline Value for V.G.P. Mathina Nagar 1st Street

V.G.P. Mathina Nagar 1st Street guideline value

The current guideline value of V.G.P. Mathina Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of V.G.P. Mathina Nagar 1st Street has changed

The guideline value for V.G.P. Mathina Nagar 1st Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft. The value then increased significantly to Rs 2,500 per sq.ft in 2023, marking a 49% rise from 2017.

The most recent revision in 2024 has established the guideline value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value in this area is Rs 2,150 per sq.ft, placing V.G.P. Mathina Nagar 1st Street's current value above that median.

• V.G.P. Mathina Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• V.G.P Mathina Nagar Road: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar North 1st Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar North 2nd Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar North 3rd Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar North 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P. Mathina Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.P. Mathina Nagar 1st Street?

The V.G.P. Mathina Nagar 1st Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Rajakilpakkam, the guideline value is used as a benchmark for determining the stamp duty and registration fees. This value is crucial for both buyers and sellers as it influences the overall costs associated with property transactions.

At the time of registration, the guideline value is considered alongside the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the fees reflect the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of V.G.P. Mathina Nagar 1st Street?

The current guideline value of V.G.P. Mathina Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the median guideline value in Rajakilpakkam?

The median guideline value in Rajakilpakkam is Rs 2,150 per sq.ft, with V.G.P. Mathina Nagar 1st Street's current value being above this median.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for V.G.P. Mathina Nagar 1st Street?

The Selaiyur Sub Registrar Office handles registrations for V.G.P. Mathina Nagar 1st Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.