Guideline Value for V.G.P. SANTHI NAGAR PERIYAR NAGAR

V.G.P. Santhi Nagar Periyar Nagar guideline value

The current guideline value for V.G.P. Santhi Nagar Periyar Nagar 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 Periyar Nagar has changed

The guideline value for V.G.P. Santhi Nagar Periyar Nagar has seen several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was set at Rs 3,500 per sq.ft. This value decreased to Rs 2,345 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the guideline value rose significantly to Rs 3,850 per sq.ft, which represents an increase of 64%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register has no figures for the years 2002, 2003, 2007, and 2023 for this street. Therefore, the only revisions available are from 2012, 2017, and the current 2024 figure.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO with a 2024 guideline value 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 Periyar Nagar's 2024 figure above that median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees 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 also use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers V.G.P. Santhi Nagar Periyar Nagar?

The V.G.P. Santhi Nagar Periyar Nagar area is covered by 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. 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 in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a buyer and seller agree on a sale price, the registration office will assess the guideline value. If the sale price is lower than the guideline value, the duty will be charged based on the guideline value instead. This ensures that the government collects stamp duty and registration fees that reflect the property's worth in the market.

Frequently asked questions

What is the current guideline value for V.G.P. Santhi Nagar Periyar Nagar?

The current guideline value for V.G.P. Santhi Nagar Periyar Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,850 per sq.ft in 2024. This reflects an overall increase of 10% from 2012 to 2024.

Which Sub Registrar Office covers this area?

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

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in V.G.P. Santhi Nagar Periyar Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find more information on stamp duty and registration fees?

You can find more information and calculate your stamp duty and registration fees using our stamp duty and registration fee calculator.