Guideline Value for V.G.P. RAJA STREET

V.G.P. Raja Street guideline value

The current guideline value of V.G.P. Raja Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village under the Neelankarai SRO, and it falls under the Residential Special Type - III land classification.

How the guideline value of V.G.P. Raja Street has changed

In the 2017 revision, the guideline value was Rs 3,350 per sq.ft. This figure increased to Rs 5,000 per sq.ft in the 2023 revision, reflecting a significant change of 49%. The most recent 2024 revision saw the guideline value rise to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, 2012.

Guideline values in Sholinganallur - 1

In the Sholinganallur - 1 village, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. V.G.P. Raja Street's 2024 guideline value is above this median.

• V.G.P. Prasad Street: Rs 5,500 per sq.ft (2024)
• V.G.P. Murbi Street, Ammal Joint Street: Rs 5,500 per sq.ft (2024)
• V.G.P. Murbi Street: Rs 5,500 per sq.ft (2024)
• V.G.P. Main Street Extension: Rs 5,500 per sq.ft (2024)
• V.G.P. Main Street: Rs 5,500 per sq.ft (2024)
• V.G.P. Ravi Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P. Raja Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.G.P. Raja Street?

The V.G.P. Raja Street is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is an essential factor in property transactions in Sholinganallur - 1. It determines the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the baseline value of the property. It is crucial to be aware of these values to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of V.G.P. Raja Street?

The current guideline value of V.G.P. Raja Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,350 per sq.ft in 2017 to Rs 5,000 per sq.ft in 2023, and then to Rs 5,500 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What are the other streets with the same guideline value in Sholinganallur - 1?

Other streets in Sholinganallur - 1 with the same guideline value of Rs 5,500 per sq.ft in 2024 include V.G.P. Prasad Street, V.G.P. Murbi Street, V.G.P. Murbi Street, V.G.P. Main Street Extension, V.G.P. Main Street, and V.G.P. Ravi Street.

What is the stamp duty for property in V.G.P. Raja Street?

The stamp duty for a property in V.G.P. Raja Street is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, the stamp duty would be Rs 3,85,000.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.