Guideline Value for V.G.P.SHANTHI NAGAR EXTENSION 1ST CROSS STREET

V.G.P.Shanthi Nagar Extension 1st Cross Street guideline value

The current guideline value for V.G.P.Shanthi Nagar Extension 1st Cross Street 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.Shanthi Nagar Extension 1st Cross Street has changed

The guideline value for V.G.P.Shanthi Nagar Extension 1st Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft. However, in the 2017 revision, the value decreased to Rs 2,345 per sq.ft, marking a decline of 33%. The most recent revision in 2024 has increased the guideline value to Rs 3,850 per sq.ft, which represents a significant increase of 64% from the 2017 figure.

Overall, comparing the values from 2012 to 2024, there has been a net increase of 10%. 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

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing V.G.P.Shanthi Nagar Extension 1st Cross Street above this median.

• V.G.P.Shanthi Nagar Bharathi Street: Rs 3,850 per sq.ft (2024)
• V.G.P.Shanthi Nagar Extension 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• V.G.P.Shanthi Nagar 4th Street(Avvai): Rs 3,850 per sq.ft (2024)
• V.G.P.Shanthi Nagar Kanchi Street: Rs 3,850 per sq.ft (2024)
• V.G.P.Shanthi Nagar 3rd Street (Elango): Rs 3,850 per sq.ft (2024)
• V.G.P. Shanthi Nagar Lakshmi Street Extension: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P.Shanthi Nagar Extension 1st Cross Street

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

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers V.G.P.Shanthi Nagar Extension 1st Cross Street?

The V.G.P.Shanthi Nagar Extension 1st Cross Street is covered by 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. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it provides a benchmark for property transactions. It ensures that the appropriate fees are paid to the government, facilitating a smooth registration process.

Frequently asked questions

What is the current guideline value of V.G.P.Shanthi Nagar Extension 1st Cross Street?

The current guideline value of V.G.P.Shanthi Nagar Extension 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,850 per sq.ft in 2024. This reflects a decrease of 33% from 2012 to 2017 and an increase of 64% from 2017 to 2024.

What is the land classification for this area?

The land classification for V.G.P.Shanthi Nagar Extension 1st Cross Street is Commercial Class I Type - I, indicating its commercial use.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office that covers V.G.P.Shanthi Nagar Extension 1st Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 38,50,000, the stamp duty at 7% would amount to Rs 2,69,500.