Guideline Value for V.G.P. Santhanamal Nagar Main Road

V.G.P. Santhanamal Nagar Main Road guideline value

The current guideline value for V.G.P. Santhanamal Nagar Main Road is Rs 2,650 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

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

It is noteworthy that there are no figures available for the revisions in 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 have 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 Main Road is above this median.

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

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 to 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.P. Santhanamal Nagar Main Road?

The Sub Registrar Office that covers V.G.P. Santhanamal Nagar Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within 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

The guideline value plays a crucial role during the registration of property transactions in Gowrivakkam. It is used to determine the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When buying or selling property, the guideline value is essential for calculating the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. Buyers and sellers must be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for V.G.P. Santhanamal Nagar Main Road?

The current guideline value for V.G.P. Santhanamal Nagar Main Road 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 2023 to Rs 2,650 per sq.ft in 2024, marking a 6% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012, showing a significant increase over the years.

What are the stamp duty and registration fees for properties 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. The duty is charged on the higher of the guideline value or the sale price.

Which registration office covers V.G.P. Santhanamal Nagar Main Road?

The Selaiyur Sub Registrar Office covers V.G.P. Santhanamal Nagar Main Road, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for V.G.P. Santhanamal Nagar Main Road?

V.G.P. Santhanamal Nagar Main Road is classified as Residential Class I Type - III, indicating its suitability for residential development.