Guideline Value for V.G.P. SANTHI NAGAR (PART I TO IV)

V.G.P. Santhi Nagar (Part I To IV) guideline value

The current guideline value for V.G.P. Santhi Nagar (Part I To IV) is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of V.G.P. Santhi Nagar (Part I To IV) has changed

The guideline value for V.G.P. Santhi Nagar (Part I To IV) has seen several revisions over the years. The oldest recorded revision is from 2007, where the guideline value was Rs 1,102 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 has raised the value to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the guideline value increased by 218% from 2007 to 2012 and has seen an overall increase of 249% from 2007 to 2024. Notably, there are no recorded figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing V.G.P. Santhi Nagar (Part I To IV) above this median value.

• Vgp Santhi Nagar Extn.: Rs 3,850 per sq.ft (2024)
• V.G.P. Santhi Nagar Periyar Nagar: Rs 3,850 per sq.ft (2024)
• V.G.P. Santhi Nagar Ramar Street: Rs 3,850 per sq.ft (2024)
• Vgp Rajesh Nagar 7th Cross Street: Rs 2,750 per sq.ft (2024)
• Vgp Rajesh Nagar 6th Street: Rs 2,750 per sq.ft (2024)
• Vgp Rajesh Nagar 5th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P. Santhi Nagar (Part I To IV)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost to Rs 3,46,500. 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. Santhi Nagar (Part I To IV)?

The Sub Registrar Office that covers V.G.P. Santhi Nagar (Part I To IV) is the Chennai South Joint I Sub Registrar Office. The address is Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is essential for calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for V.G.P. Santhi Nagar (Part I To IV)?

The current guideline value for V.G.P. Santhi Nagar (Part I To IV) is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased by 249%, rising from Rs 1,102 per sq.ft to Rs 3,850 per sq.ft in 2024.

What are the guideline values for other streets in Pallikaranai?

Other streets in Pallikaranai have varying guideline values. For example, Vgp Santhi Nagar Extn., V.G.P. Santhi Nagar Periyar Nagar, and V.G.P. Santhi Nagar Ramar Street all have a guideline value of Rs 3,850 per sq.ft in 2024.

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

The Sub Registrar Office for V.G.P. Santhi Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in V.G.P. Santhi Nagar?

Stamp duty for properties in V.G.P. Santhi Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a total cost of Rs 3,46,500 for stamp duty and registration fees combined.