Guideline Value

Corporate

Guideline Value for V.G.P.NAGAR

₹5500/sq.ft.

The guideline value for V.g.p.nagar in Palavakkam 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 - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Palavakkam

Village

Neelankarai

SRO

Residential Special Type - III
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 ₹2289 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹457 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹409 /sq.ft.
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]

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

V.G.P.Nagar guideline value

The current guideline value of V.G.P.Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024. This area 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.Nagar has changed

The guideline value for V.G.P.Nagar has seen several revisions over the years. In 2002, the value was Rs 409 per sq.ft, which increased to Rs 457 per sq.ft in 2003. The value then saw a significant rise to Rs 2,289 per sq.ft in 2007, followed by an increase to Rs 5,000 per sq.ft in 2012. However, the value decreased to Rs 3,350 per sq.ft in 2017, before rising again to Rs 5,000 per sq.ft in 2023 and finally reaching Rs 5,500 per sq.ft in the 2024 revision.

Between the revisions, the changes were notable. From 2002 to 2003, the increase was +12%. The rise from 2003 to 2007 was +401%, while the jump from 2007 to 2012 was +118%. The value then decreased by -33% from 2012 to 2017, followed by a +49% increase from 2017 to 2023. The most recent revision from 2023 to 2024 saw a +10% increase. Overall, from 2002 to 2024, the guideline value has increased by +1245%.

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. The median value for these streets is Rs 3,300 per sq.ft, making V.G.P.Nagar's 2024 figure of Rs 5,500 per sq.ft notably above this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. 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.Nagar?

The Sub Registrar Office that covers V.G.P.Nagar 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 is a crucial factor when registering property in Palavakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

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

The current guideline value of V.G.P.Nagar 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, reflecting an overall increase of +1245% over the years.

What are the other streets with the same guideline value in Palavakkam?

Other streets in Palavakkam with the same guideline value of Rs 5,500 per sq.ft include V.G.P. Main Road, V.G.P. Golden Beach Sea View Part, and several others.

What are the stamp duty and registration fees for property in V.G.P.Nagar?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office do I need to visit for property registration in V.G.P.Nagar?

The Neelankarai Sub Registrar Office is responsible for property registration in V.G.P.Nagar, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.