Guideline Value for V.G.P. Santhanamal Nagar 1st Cross Street

V.G.P. Santhanamal Nagar 1st Cross Street guideline value

The current guideline value of V.G.P. Santhanamal Nagar 1st Cross Street is Rs 2,650 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of V.G.P. Santhanamal Nagar 1st Cross Street has changed

The guideline value for V.G.P. Santhanamal Nagar 1st Cross Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,500 per sq.ft. This value remained unchanged until the next revision in 2017, which saw a decrease to Rs 1,675 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 2,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 2,650 per sq.ft, marking a 6% rise from the previous year’s figure of Rs 2,500 per sq.ft.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for V.G.P. Santhanamal Nagar 1st Cross Street is above this median.

• V.G.P. Santhanamal Nagar 2nd Cross Street: Rs 2,650 per sq.ft (2024)
• V.G.P. Santhanamal Nagar 3rd Cross Street: Rs 2,650 per sq.ft (2024)
• V.G.P. Santhanamal Nagar Main Road: Rs 2,650 per sq.ft (2024)
• V.G.P.Santhanammal Nagar 1st Street: Rs 2,650 per sq.ft (2024)
• V.G.P.Santhanammal Nagar 2nd Street: Rs 2,650 per sq.ft (2024)
• V.G.P.Santhanammal Nagar 3rd Street: Rs 2,650 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P. Santhanamal Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,650 per sq.ft, the total guideline value would be Rs 26,50,000. The stamp duty at 7% would amount to Rs 1,85,500, while the registration fee at 2% would be Rs 53,000. Together, the total cost for these fees would be Rs 2,38,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.P. Santhanamal Nagar 1st Cross Street?

The V.G.P. Santhanamal Nagar 1st Cross Street falls under 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 for more details.

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

The guideline value is an essential factor when registering a property in Gowrivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and avoid any potential disputes.

When a property is sold, the guideline value is used to calculate the applicable taxes; this applies whether the sale price is higher or lower than the guideline value. Therefore, it is crucial for both buyers and sellers to understand how the guideline value affects their financial obligations during the property transaction process.

Frequently asked questions

What is the current guideline value for V.G.P. Santhanamal Nagar 1st Cross Street?

The current guideline value for V.G.P. Santhanamal Nagar 1st Cross Street is Rs 2,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,650 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 26,50,000, the stamp duty would be Rs 1,85,500 and the registration fee would be Rs 53,000, totaling Rs 2,38,500.

Which office handles registrations for V.G.P. Santhanamal Nagar 1st Cross Street?

The Selaiyur Sub Registrar Office handles registrations for V.G.P. Santhanamal Nagar 1st Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

What is the land classification for this street?

V.G.P. Santhanamal Nagar 1st Cross Street is classified as Residential Class I Type - III.