Guideline Value for V.G.P.BEACH ROAD

V.G.P.Beach Road guideline value

The current guideline value of V.G.P.Beach Road in Uthandi village is Rs 5,000 per sq.ft, effective from 1 July 2024. This property falls under the Neelankarai SRO and is classified as Residential Special Type - II.

How the guideline value of V.G.P.Beach Road has changed

The guideline value for V.G.P.Beach Road has seen several revisions over the years. In 2003, the value was Rs 310 per sq.ft, which increased significantly to Rs 1,667 per sq.ft in 2007, marking a change of +438%. The value then rose to Rs 4,500 per sq.ft in 2012, reflecting a substantial increase of +170%. However, it decreased to Rs 3,015 per sq.ft in 2017, a drop of -33%. The value saw a notable increase to Rs 4,500 per sq.ft in 2023, followed by another rise to Rs 5,000 per sq.ft in 2024, which is an increase of +11%.

Overall, from 2003 to 2024, the guideline value has increased by +1513%. The register has no figure for this street in 2002.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 14,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for V.G.P.Beach Road is above this median.

• V.G.P.Golden Beach Uthandi II: Rs 5,000 per sq.ft (2024)
• Vgp Golden Beach Uthandi II Layout: Rs 5,000 per sq.ft (2024)
• V.G.P.Layout: Rs 5,500 per sq.ft (2024)
• V.G.P.LAYOUT PART I - 1st CROSS ROAD: Rs 5,500 per sq.ft (2024)
• V.G.P.LAYOUT PART I - 1st MAIN ROAD: Rs 5,500 per sq.ft (2024)
• V.G.P.LAYOUT PART I - 2nd CROSS ROAD: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P.Beach Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total fees to Rs 4,50,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.G.P.Beach Road?

The V.G.P.Beach Road is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Uthandi. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, but the duty is charged based on the higher of the two.

When registering a property, it is essential to refer to the latest guideline value, as this will affect the overall costs involved in the transaction. Understanding the guideline value helps ensure compliance with local regulations and accurate financial planning.

Frequently asked questions

What is the current guideline value of V.G.P.Beach Road?

The current guideline value of V.G.P.Beach Road is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 310 per sq.ft in 2003 to Rs 5,000 per sq.ft in 2024, marking an overall increase of +1513% over the years.

What is the land classification for V.G.P.Beach Road?

V.G.P.Beach Road is classified as Residential Special Type - II.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Uthandi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 50,00,000, the stamp duty at 7% would be Rs 3,50,000.