Guideline Value for V.G.P. Pon Nagar 6th Street

V.G.P. Pon Nagar 6th Street guideline value

The current guideline value of V.G.P. Pon Nagar 6th 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 6th Street has changed

The guideline value for V.G.P. Pon Nagar 6th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,340 per sq.ft, marking a decrease of 33%. The 2023 revision then increased the value to Rs 2,000 per sq.ft, followed by the current 2024 revision that raised it to Rs 2,200 per sq.ft, an increase of 10% from the previous year.

In total, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 is Rs 2,200 per sq.ft, which is equal to the current guideline value of V.G.P. Pon Nagar 6th Street.

• V.G.P. Pon Nagar 6th Cross Street: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar 7th Cross 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 7th 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 8th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P. Pon Nagar 6th 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 charges 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.

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

Which Sub Registrar Office covers V.G.P. Pon Nagar 6th Street?

The Sub Registrar Office that covers V.G.P. Pon Nagar 6th 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Chembakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling a property. Buyers and sellers must be aware of the current guideline value to ensure accurate financial planning during the transaction process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of V.G.P. Pon Nagar 6th Street?

The current guideline value of V.G.P. Pon Nagar 6th 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 seen several revisions: 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. Overall, the value has increased by 10% from 2012 to 2024.

What is the land classification of V.G.P. Pon Nagar 6th Street?

V.G.P. Pon Nagar 6th Street is classified as Residential Special Type - II according to the local regulations.

What is the registration office for V.G.P. Pon Nagar 6th Street?

The registration office that covers V.G.P. Pon Nagar 6th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in V.G.P. Pon Nagar 6th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 22,00,000, the stamp duty would be 7% of that amount, along with a registration fee of 2%.