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

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

The current guideline value of V.G.P. Pon Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Residential Special Type - II.

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

The guideline value for V.G.P. Pon Nagar 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from Rs 1,340 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest 2024 revision raised it to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value for V.G.P. Pon Nagar 3rd Street.

• V.G.P. Pon Nagar 3rd Cross Street: 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 Street: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar 4th 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 5th Cross Street: Rs 2,200 per sq.ft (2024)

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

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

You can use the stamp duty and registration fee calculator for more information on fees applicable to your property transaction.

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

The Sub Registrar Office that covers V.G.P. Pon Nagar 3rd Street is 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 critical factor when registering a property in Chembakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction process.

When you buy or sell property, the guideline value is used to calculate the fees based on the higher of the guideline value or the actual sale price. This ensures that the registration process is transparent and consistent across all transactions.

Frequently asked questions

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

The current guideline value of V.G.P. Pon Nagar 3rd 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 2,200 per sq.ft in 2024, marking an overall increase of 10%. The value also increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, which is a 10% rise.

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

V.G.P. Pon Nagar 3rd Street is classified as Residential Special Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for V.G.P. Pon Nagar 3rd Street?

The Selaiyur Sub Registrar Office handles the registration for V.G.P. Pon Nagar 3rd Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.