Guideline Value for V.G.P. Pon Nagar 3rd Cross Street

V.G.P. Pon Nagar 3rd Cross Street guideline value

The current guideline value of V.G.P. Pon Nagar 3rd Cross Street is Rs 2,200 per sq.ft. This street is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of V.G.P. Pon Nagar 3rd Cross Street has changed

The guideline value for V.G.P. Pon Nagar 3rd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has set it at Rs 2,200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The latest change from 2023 to 2024 reflects a 10% increase, bringing the overall change from 2012 to 2024 to a 10% rise.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, which aligns with the 2024 guideline value of V.G.P. Pon Nagar 3rd Cross Street.

• V.G.P. Pon Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P. Pon Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.P. Pon Nagar 3rd Cross Street?

The V.G.P. Pon Nagar 3rd Cross Street is covered by 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 details.

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

The guideline value is a crucial factor when registering property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted fairly and transparently.

When you buy or sell property, the guideline value will influence the stamp duty and registration fees that are applicable. It is essential to be aware of these values to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of V.G.P. Pon Nagar 3rd Cross Street?

The current guideline value of V.G.P. Pon Nagar 3rd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of V.G.P. Pon Nagar 3rd Cross Street?

V.G.P. Pon Nagar 3rd Cross Street is classified as Residential Special Type - II under the land classification regulations.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Chembakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, if the guideline value is Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.