Guideline Value for V.G.P.AMARAVATHI NAGAR

V.G.P.Amaravathi Nagar guideline value

The current guideline value of V.G.P.Amaravathi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This locality is situated in Jelandianpettai village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of V.G.P.Amaravathi Nagar has changed

The guideline value of V.G.P.Amaravathi Nagar has undergone several revisions over the years. The 2007 revision set the guideline value at Rs 900 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure dropped to Rs 1,675 per sq.ft in 2017, marking a decrease of 33%. The value then saw a substantial rise to Rs 2,500 per sq.ft in 2023, followed by a further increase to Rs 2,750 per sq.ft in 2024, reflecting a change of 10% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 206%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of V.G.P.Amaravathi Nagar is above this median.

• Vidhyapalli Street: Rs 2,200 per sq.ft (2024)
• Vignaeswara Nagar Phase I & II: Rs 2,750 per sq.ft (2024)
• Venkadesan Street: Rs 2,200 per sq.ft (2024)
• Vivekanthar Street: Rs 2,200 per sq.ft (2024)
• V.O.C. Street: Rs 2,200 per sq.ft (2024)
• Veerathamman Koil West Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P.Amaravathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. 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.Amaravathi Nagar?

The V.G.P.Amaravathi Nagar area 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 Jelandianpettai

The guideline value is a critical factor in the registration process when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in compliance with state regulations.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are essential for completing the legal transfer of ownership. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of V.G.P.Amaravathi Nagar?

The current guideline value of V.G.P.Amaravathi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers V.G.P.Amaravathi Nagar?

The Chennai South Joint I Sub Registrar Office covers V.G.P.Amaravathi Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification of V.G.P.Amaravathi Nagar?

V.G.P.Amaravathi Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes.