Guideline Value for V.G.P. Santhanamal Nagar 3rd Cross Street

V.G.P. Santhanamal Nagar 3rd Cross Street guideline value

The current guideline value for V.G.P. Santhanamal Nagar 3rd Cross Street is Rs 2,650 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of V.G.P. Santhanamal Nagar 3rd Cross Street has changed

The guideline value for V.G.P. Santhanamal Nagar 3rd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was later reduced to Rs 1,675 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the value to Rs 2,650 per sq.ft, a 6% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street in the guideline value register. 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. The median guideline value for these streets is Rs 2,200 per sq.ft, placing V.G.P. Santhanamal Nagar 3rd Cross Street above this median.

• V.G.P. Santhanamal Nagar 2nd 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. Santhanamal Nagar 1st Cross Street: 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 3rd 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 cost together 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.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.P. Santhanamal Nagar 3rd Cross Street?

The V.G.P. Santhanamal Nagar 3rd Cross Street is covered by 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 plays a crucial role in the registration process of property transactions in Gowrivakkam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded at a value that reflects the official rates set by the government.

It is essential for buyers and sellers to be aware of the guideline value as it can affect the overall cost of the transaction. Understanding this value helps in budgeting for additional costs associated with property registration, ensuring a smooth transfer of ownership.

Frequently asked questions

What is the current guideline value for V.G.P. Santhanamal Nagar 3rd Cross Street?

The current guideline value for V.G.P. Santhanamal Nagar 3rd 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 increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,650 per sq.ft in 2024.

What is the land classification for this street?

The land classification for V.G.P. Santhanamal Nagar 3rd Cross Street is Residential Class I Type - III.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in this area?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 26,50,000, the stamp duty would be Rs 1,85,500 at 7%.