Guideline Value for V.G.P. Pon Nagar 5th Street

V.G.P. Pon Nagar 5th Street guideline value

The current guideline value of V.G.P. Pon Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of V.G.P. Pon Nagar 5th Street has changed

The guideline value for V.G.P. Pon Nagar 5th Street has undergone several revisions over the years. The oldest revision available is from 2012, where the guideline value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, and finally, it rose to the current rate of Rs 2,200 per sq.ft in 2024. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the revisions, notable changes include a 33% decrease from 2012 to 2017, followed by a significant 49% increase from 2017 to 2023. The overall change from 2012 to 2024 shows a 10% increase, reflecting the current guideline value of Rs 2,200 per sq.ft, which is the same as the median value for Chembakkam.

Guideline values in Chembakkam

In Chembakkam village, 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 is Rs 2,200 per sq.ft, which is the same as the current value for V.G.P. Pon Nagar 5th Street.

• V.G.P. Pon Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar 6th Cross 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 6th 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 7th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P. Pon Nagar 5th 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 fees together to Rs 1,98,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers V.G.P. Pon Nagar 5th Street?

The V.G.P. Pon Nagar 5th 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. To find your nearest SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration process of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal valuation of the property. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of V.G.P. Pon Nagar 5th Street?

The current guideline value of V.G.P. Pon Nagar 5th 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 in 2012 to Rs 1,340 in 2017, then back to Rs 2,000 in 2023, and finally to Rs 2,200 in 2024.

What is the land classification for V.G.P. Pon Nagar 5th Street?

The land classification for V.G.P. Pon Nagar 5th Street is Residential Special Type - II.

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 V.G.P. Pon Nagar 5th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would amount to Rs 1,54,000 based on the current guideline value.