Guideline Value for V.G.P. Pon Nagar 4th Street

V.G.P. Pon Nagar 4th Street guideline value

The current guideline value for V.G.P. Pon Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. 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 4th Street has changed

The guideline value for V.G.P. Pon Nagar 4th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 raised it to Rs 2,200 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO carrying a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which aligns with the current guideline value for V.G.P. Pon Nagar 4th Street.

• V.G.P. Pon Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar 5th Cross 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 5th Street: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar 6th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P. Pon Nagar 4th 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, while the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers V.G.P. Pon Nagar 4th Street?

The V.G.P. Pon Nagar 4th Street falls under the Selaiyur Sub Registrar Office. The office is located at No.36, Bharathmatha Salai (opposite 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 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 a property can be registered, ensuring that the transaction is conducted at a fair price.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value for V.G.P. Pon Nagar 4th Street?

The current guideline value for V.G.P. Pon Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value for V.G.P. Pon Nagar 4th Street has fluctuated, with the most recent revision in 2024 increasing it to Rs 2,200 per sq.ft from Rs 2,000 per sq.ft in 2023.

Where can I find the Selaiyur Sub Registrar Office?

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

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, on a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

What is the median guideline value for streets in Chembakkam?

The median guideline value for streets in Chembakkam is Rs 2,200 per sq.ft, which is the same as the current guideline value for V.G.P. Pon Nagar 4th Street.