Guideline Value for V.G.P. Pon Nagar Main Road

V.G.P. Pon Nagar Main Road guideline value

The current guideline value of V.G.P. Pon Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

The guideline value for V.G.P. Pon Nagar Main Road 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 the previous figure of Rs 1,340 per sq.ft in 2017. The next revision in 2023 raised the value to Rs 2,000 per sq.ft, and the most recent revision in 2024 increased it further to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

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, with 2024 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 the same as the 2024 figure for V.G.P. Pon Nagar Main Road.

• V.G.P. Pon Nagar Extn: 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 8th Cross 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 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 Main Road

For a 1,000 sq.ft plot at the current rate, the guideline value is 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 the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers V.G.P. Pon Nagar Main Road?

The V.G.P. Pon Nagar Main Road 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. 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 crucial factor in property transactions in Chembakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used for calculating the applicable duties and fees. This ensures that all transactions are fairly assessed and documented according to the prevailing regulations.

Frequently asked questions

What is the current guideline value for V.G.P. Pon Nagar Main Road?

The current guideline value for V.G.P. Pon Nagar Main Road 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, marking a 10% increase. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012.

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

The land classification for V.G.P. Pon Nagar Main Road is Residential Special Type - II.

What are the other streets with the same guideline value in Chembakkam?

Other streets in Chembakkam with the same guideline value of Rs 2,200 per sq.ft include V.G.P. Pon Nagar Extn, V.G.P. Pon Nagar North, V.G.P. Pon Nagar 8th Cross Street, V.G.P. Pon Nagar 7th Street, V.G.P. Pon Nagar 7th Cross Street, and V.G.P. Pon Nagar 6th Street.

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.