Guideline Value for V.G.P. Pon Nagar Extn

V.G.P. Pon Nagar Extn guideline value

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

How the guideline value of V.G.P. Pon Nagar Extn has changed

The guideline value for V.G.P. Pon Nagar Extn has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is a 10% increase from the 2023 revision of Rs 2,000 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 1,340 per sq.ft, marking a significant 49% increase to the 2023 figure. The 2012 revision had set the value at Rs 2,000 per sq.ft, showing a decrease of 33% when compared to the 2017 revision.

It's important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

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 for these streets is Rs 2,200 per sq.ft, which aligns with the guideline value for V.G.P. Pon Nagar Extn.

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

Stamp duty and registration fee for property in V.G.P. Pon Nagar Extn

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, while the registration fee at 2% would be Rs 44,000, leading to a total of 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 Extn?

The V.G.P. Pon Nagar Extn 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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the property registration process in Chembakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

During the registration process, buyers and sellers must refer to the guideline value to understand their financial obligations. This helps in ensuring transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of V.G.P. Pon Nagar Extn?

The current guideline value of V.G.P. Pon Nagar Extn 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 2023 to Rs 2,200 per sq.ft in 2024, a 10% increase. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012, showing various changes over the years.

What is the land classification for V.G.P. Pon Nagar Extn?

The land classification for V.G.P. Pon Nagar Extn is Residential Special Type - II, which indicates its designated use for residential purposes.

What are the stamp duty and registration fees for a property in V.G.P. Pon Nagar Extn?

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. This is based on the guideline value.

Where can I find the Sub Registrar Office for V.G.P. Pon Nagar Extn?

The Sub Registrar Office covering V.G.P. Pon Nagar Extn is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.