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Guideline Value

Corporate

Guideline Value for V.G.P.LAYOUT PART I - 2nd CROSS ROAD

₹5500/sq.ft.

The guideline value for V.g.p.layout Part I - 2nd Cross Road in Uthandi village (Neelankarai SRO, Chennai zone) is Rs 5500 per sq.ft, effective 1 July 2024. It was Rs 5000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Uthandi

Village

Neelankarai

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹5500 /sq.ft.
From 1-4-2023 ₹5000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3350 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on V.g.p.layout Part I - 2nd Cross Road

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V.G.P.LAYOUT PART I - 2nd CROSS ROAD guideline value

The current guideline value for V.G.P.LAYOUT PART I - 2nd CROSS ROAD is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village and falls under the Neelankarai SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of V.G.P.LAYOUT PART I - 2nd CROSS ROAD has changed

The guideline value for V.G.P.LAYOUT PART I - 2nd CROSS ROAD has seen several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which was a decrease of 33% from the Rs 3,350 per sq.ft recorded in the 2017 revision. In 2023, the value increased to Rs 5,000 per sq.ft, and the latest revision in 2024 raised it to Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is a 10% increase. The 2023 to 2024 revision indicates a 10% rise, while the significant increase from 2017 to 2023 was 49%. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

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.LAYOUT PART I - 2nd CROSS ROAD is above this median.

Stamp duty and registration fee for property in V.G.P.LAYOUT PART I - 2nd CROSS ROAD

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would amount 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 to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.G.P.LAYOUT PART I - 2nd CROSS ROAD?

The Sub Registrar Office that covers V.G.P.LAYOUT PART I - 2nd CROSS 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 Uthandi

The guideline value plays a crucial role during the property registration process in Uthandi. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the state receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions in the real estate market.

Frequently asked questions

What is the current guideline value for V.G.P.LAYOUT PART I - 2nd CROSS ROAD?

The current guideline value for V.G.P.LAYOUT PART I - 2nd CROSS 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 from Rs 5,000 per sq.ft in 2023 to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase. It was Rs 3,350 per sq.ft in 2017 and Rs 5,000 per sq.ft in 2012.

What is the land classification for this area?

The land classification for V.G.P.LAYOUT PART I - 2nd CROSS ROAD is Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty rates applicable?

The stamp duty for property transactions in this area is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

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. You can find your SRO online for more information.