Guideline Value for V.G.P.LAYOUT

V.G.P.Layout guideline value

The current guideline value for V.G.P.Layout in Uthandi village under the Neelankarai SRO is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of V.G.P.Layout has changed

The guideline value for V.G.P.Layout has seen significant changes over the years. In 2003, the value was Rs 310 per sq.ft, which increased to Rs 1,667 per sq.ft in 2007, marking a substantial rise of 438%. The value then jumped to Rs 5,000 per sq.ft in 2012, reflecting a 200% increase. However, it decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%. The guideline value rose again to Rs 5,000 per sq.ft in 2023, before reaching the current figure of Rs 5,500 per sq.ft in 2024, an increase of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 1674%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Uthandi

Uthandi village has a total of 197 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 14,700 per sq.ft as of 2024. The median guideline value for the area is Rs 1,700 per sq.ft, placing V.G.P.Layout's current value above this median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees 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.

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

Which Sub Registrar Office covers V.G.P.Layout?

The V.G.P.Layout area 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 plays a crucial role in the registration process when buying or selling property in Uthandi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of V.G.P.Layout 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 310 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 1674% over this period.

What is the land classification for V.G.P.Layout?

V.G.P.Layout is classified as Residential Special Type - I, indicating its designation for residential use.

Where is the Neelankarai Sub Registrar Office located?

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 stamp duty calculated for property transactions in Uthandi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This amount is then used to determine the total fees payable during the registration process.