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Guideline Value

Corporate

Guideline Value for V.G.P. SHANTHI ELANGO STREET EXTENSION

₹3850/sq.ft.

The guideline value for V.g.p. Shanthi Elango Street Extension in Pallikaranai village (Chennai South Joint I SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Pallikaranai

Village

Chennai South Joint I

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on V.g.p. Shanthi Elango Street Extension

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V.G.P. Shanthi Elango Street Extension guideline value

The current guideline value of V.G.P. Shanthi Elango Street Extension is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village under the Chennai South Joint I SRO, and is classified as Commercial Class I Type - I.

How the guideline value of V.G.P. Shanthi Elango Street Extension has changed

The guideline value for V.G.P. Shanthi Elango Street Extension has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 3,500 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 3,850 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pallikaranai

In Pallikaranai, there are 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 in this area is Rs 1,650 per sq.ft, indicating that the 2024 guideline value of V.G.P. Shanthi Elango Street Extension is above this median.

Stamp duty and registration fee for property in V.G.P. Shanthi Elango Street Extension

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. Together, the total cost for stamp duty and registration fees would be Rs 3,46,500. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers V.G.P. Shanthi Elango Street Extension?

The V.G.P. Shanthi Elango Street Extension falls under 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 details.

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 calculating the stamp duty and registration fees, which are mandatory during the registration of property transactions.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of V.G.P. Shanthi Elango Street Extension?

The current guideline value of V.G.P. Shanthi Elango Street Extension 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 3,850 per sq.ft in 2024, reflecting a 10% increase. The value remained unchanged from 2012 to 2023.

What are the guideline values of other streets in Pallikaranai?

Other streets in Pallikaranai have varying guideline values, with some streets like V.G.P. Shanthi First Labour Colony and V.G.P. Shanthi Nagar 1st Street also having a guideline value of Rs 3,850 per sq.ft in 2024.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at a rate of 7%.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the relevant link provided for locating your SRO. The V.G.P. Shanthi Elango Street Extension is covered by the Chennai South Joint I Sub Registrar Office.