Guideline Value for V.G.P.RAJESH NAGAR 1ST MAIN ROAD

V.G.P.Rajesh Nagar 1st Main Road guideline value

The current guideline value for V.G.P.Rajesh Nagar 1st Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of V.G.P.Rajesh Nagar 1st Main Road has changed

In the 2012 revision, the guideline value was set at Rs 3,500 per sq.ft. This figure decreased to Rs 2,345 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the guideline value saw a significant increase of 64%, bringing it up to the current value of Rs 3,850 per sq.ft.

Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 10% in the guideline value. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing V.G.P.Rajesh Nagar 1st Main Road above this median value.

• V.G.P. Rajesh Nagar: Rs 3,850 per sq.ft (2024)
• Vgp Rajesh Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Vgp Rajesh Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Vgp Rajeshnagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Vgp Rajesh Nagar 3rd Main Road: Rs 2,750 per sq.ft (2024)
• V.G.P.Rajesh Nagar 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P.Rajesh Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty, calculated at 7%, amounts to Rs 2,69,500, while the registration fee at 2% is Rs 77,000. Together, the total cost for these fees would be Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.P.Rajesh Nagar 1st Main Road?

The Sub Registrar Office that covers V.G.P.Rajesh Nagar 1st Main Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions in Pallikaranai, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs incurred during the transaction.

It is crucial for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. Ensuring compliance with the guideline value helps in smooth registration and legal processes.

Frequently asked questions

What is the current guideline value of V.G.P.Rajesh Nagar 1st Main Road?

The current guideline value of V.G.P.Rajesh Nagar 1st Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,850 per sq.ft in 2024.

What is the land classification for V.G.P.Rajesh Nagar 1st Main Road?

The land classification for V.G.P.Rajesh Nagar 1st Main Road is Commercial Class I Type - I.

What is the range of guideline values in Pallikaranai?

The guideline values in Pallikaranai range from Rs 1,110 to Rs 8,580 per sq.ft, with a median value of Rs 1,650 per sq.ft.

Where can I find more information about stamp duty and registration fees?

For more information about stamp duty and registration fees, you can use the stamp duty and registration fee calculator.