Guideline Value for V.G.P. Pon Nagar

V.G.P. Pon Nagar guideline value

The current guideline value of V.G.P. Pon Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Chembakkam village, under the Selaiyur SRO, classified as Residential Special Type - II.

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

The guideline value for V.G.P. Pon Nagar has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly 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. The register has no figure for this street in 2002, 2003, and 2007.

Between the revisions, there have been notable changes. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The transition from 2023 to 2024 saw a 10% increase, and overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current guideline value for V.G.P. Pon Nagar.

• V.G.P. Pon Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

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

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 cost together to Rs 1,98,000. It is important to note that the 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?

The Sub Registrar Office that covers V.G.P. Pon Nagar 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 here.

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, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions.

When buying or selling property, the guideline value serves as a benchmark for both buyers and sellers. It ensures that the property is not undervalued during registration, thus safeguarding the interests of the state in terms of revenue collection.

Frequently asked questions

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

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

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 1,98,000.

Which office handles property registrations in V.G.P. Pon Nagar?

The Selaiyur Sub Registrar Office handles property registrations in V.G.P. Pon Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

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

V.G.P. Pon Nagar is classified as Residential Special Type - II, indicating its designated use for residential purposes.