Guideline Value for V.G.P.GOLDEN BEACH 4TH MAIN ROAD

V.G.P.Golden Beach 4th Main Road guideline value

The current guideline value of V.G.P.Golden Beach 4th Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This property is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Special Type - III.

How the guideline value of V.G.P.Golden Beach 4th Main Road has changed

The guideline value for V.G.P.Golden Beach 4th Main Road has seen several revisions over the years. In 2002, the guideline value was Rs 409 per sq.ft. It increased to Rs 457 per sq.ft in 2003, marking a 12% rise. The value then surged significantly to Rs 2,289 per sq.ft in 2007, reflecting a 401% increase. Following this, the value continued to rise, reaching Rs 5,000 per sq.ft in 2012, which was an increase of 118%. However, it dropped to Rs 3,350 per sq.ft in 2017, showing a decrease of 33%. The guideline value then rose to Rs 5,000 per sq.ft in 2023, and it has now increased to Rs 5,500 per sq.ft in 2024, a change of 10%.

The overall change from 2002 to 2024 is a remarkable increase of 1245%. There are no figures available for the years not mentioned in the revisions for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of V.G.P.Golden Beach 4th Main Road is above this median.

• V.G.P.Golden Beach 3rd Part: Rs 5,500 per sq.ft (2024)
• V.G.P. Golden Beach Sea View Part: Rs 5,500 per sq.ft (2024)
• V.G.P.Golden Beach 3rd Main Road: Rs 5,500 per sq.ft (2024)
• V.G.P.Golden Beach 2nd Part: Rs 5,500 per sq.ft (2024)
• V.G.P.Golden Beach 2nd Main Road: Rs 5,500 per sq.ft (2024)
• V.G.P.Golden Beach 1st Part: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P.Golden Beach 4th Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total charges to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers V.G.P.Golden Beach 4th Main Road?

The Sub Registrar Office that covers V.G.P.Golden Beach 4th Main Road is 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 Palavakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Palavakkam. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is transparent and fair, adhering to the established guidelines set by the authorities.

Frequently asked questions

What is the current guideline value of V.G.P.Golden Beach 4th Main Road?

The current guideline value of V.G.P.Golden Beach 4th Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 409 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 1245% over the years.

What is the land classification for V.G.P.Golden Beach 4th Main Road?

The land classification for V.G.P.Golden Beach 4th Main Road is Residential Special Type - III.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the higher of the guideline value or the sale price, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total charges would amount to Rs 4,95,000.

Where is the Sub Registrar Office located for V.G.P.Golden Beach 4th Main Road?

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