Guideline Value for V.G.P. Santhanamal Nagar 2nd Cross Street

V.G.P. Santhanamal Nagar 2nd Cross Street guideline value

The current guideline value for V.G.P. Santhanamal Nagar 2nd 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 2nd Cross Street has changed

Since the 2012 revision, the guideline value for V.G.P. Santhanamal Nagar 2nd Cross Street has seen various changes. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, and subsequently rose to Rs 2,650 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision is a modest increase of 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. The median value across these streets is Rs 2,200 per sq.ft, indicating that V.G.P. Santhanamal Nagar 2nd Cross Street's 2024 figure is above the median.

• V.G.P. Santhanamal Nagar 1st 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 2nd 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 amounts to Rs 26,50,000. The stamp duty at 7% would be Rs 1,85,500, and the registration fee at 2% would be Rs 53,000, bringing the total charges to Rs 2,38,500. 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 calculations.

Which Sub Registrar Office covers V.G.P. Santhanamal Nagar 2nd Cross Street?

The V.G.P. Santhanamal Nagar 2nd 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 information.

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

When buying or selling property in Gowrivakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is considered the minimum value for property transactions and is used to calculate the applicable fees during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to understand the financial implications of the transaction. This value is regularly updated, reflecting changes in the real estate market.

Frequently asked questions

What is the current guideline value of V.G.P. Santhanamal Nagar 2nd Cross Street?

The current guideline value of V.G.P. Santhanamal Nagar 2nd 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 2,650 per sq.ft in 2024, with various increments and a notable increase of 49% from 2017 to 2023.

What is the median guideline value in Gowrivakkam?

The median guideline value in Gowrivakkam is Rs 2,200 per sq.ft, with V.G.P. Santhanamal Nagar 2nd Cross Street's 2024 figure being above this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in this area is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find more information about the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more information by visiting the relevant link.