Guideline Value

Corporate

Guideline Value for V.G.P. PUSHPA NAGAR

₹2750/sq.ft.

The guideline value for V.g.p. Pushpa Nagar in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Commercial Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹225 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹194 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on V.g.p. Pushpa Nagar

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V.G.P. Pushpa Nagar guideline value

The current guideline value of V.G.P. Pushpa Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Medavakkam village and falls under the Chennai South Joint I SRO with a land classification of Commercial Class I Type - III.

How the guideline value of V.G.P. Pushpa Nagar has changed

The guideline value for V.G.P. Pushpa Nagar has seen several revisions over the years. Starting from Rs 194 per sq.ft in 2002, it increased to Rs 225 per sq.ft in 2003, marking a 16% rise. The value then significantly jumped to Rs 500 per sq.ft in 2007, which was an increase of 122%. In 2012, the value was revised to Rs 2,500 per sq.ft, reflecting a substantial increase of 400% from the previous revision.

Following this, the guideline value decreased to Rs 1,675 per sq.ft in 2017, a decline of 33%. The most recent revisions saw the value rise to Rs 2,500 per sq.ft in 2023 and then to Rs 2,750 per sq.ft in 2024, marking a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1,318%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing V.G.P. Pushpa Nagar's 2024 figure above this median.

Stamp duty and registration fee for property in V.G.P. Pushpa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty is calculated at 7%, which totals Rs 1,92,500, and the registration fee at 2% amounts to Rs 55,000. Together, these fees total Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.P. Pushpa Nagar?

The Sub Registrar Office that covers V.G.P. Pushpa Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration of property transactions in Medavakkam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. When a property is bought or sold, the guideline value is used to ensure that the transaction is registered at a fair value.

Buyers and sellers should be aware that the guideline value is updated periodically, which can affect the overall costs associated with property transactions. It is advisable to check the latest guideline value before proceeding with any property dealings to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of V.G.P. Pushpa Nagar?

The current guideline value of V.G.P. Pushpa Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 194 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1,318% over the years.

What is the land classification of V.G.P. Pushpa Nagar?

V.G.P. Pushpa Nagar is classified as Commercial Class I Type - III.

Where can I find the Sub Registrar Office for V.G.P. Pushpa Nagar?

The Sub Registrar Office for V.G.P. Pushpa Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

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, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 27,50,000.