Guideline Value for V.G.P.SHANTHI NAGAR EXTENSION 2ND CROSS STREET

V.G.P.Shanthi Nagar Extension 2nd Cross Street guideline value

The current guideline value of V.G.P.Shanthi Nagar Extension 2nd 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 2nd Cross Street has changed

The guideline value for V.G.P.Shanthi Nagar Extension 2nd Cross Street has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, which is a 10% increase from the 2023 revision of Rs 3,500 per sq.ft. The 2012 revision also recorded Rs 3,500 per sq.ft, indicating no change from 2012 to 2023. There are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The 2024 figure of Rs 3,850 per sq.ft is reflective of the current market conditions and is positioned above the median guideline value of Rs 1,650 per sq.ft for other streets in Pallikaranai under the Chennai South Joint I SRO.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value is Rs 1,650 per sq.ft, and V.G.P.Shanthi Nagar Extension 2nd Cross Street's 2024 figure of Rs 3,850 per sq.ft is above this median.

• V.G.P.Shanthi Nagar Extension 1st Cross Street: 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 Bharathi Street: Rs 3,850 per sq.ft (2024)
• V.G.P. Shanthi Nagar Lakshmi Street Extension: 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 Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P.Shanthi Nagar Extension 2nd 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 together 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 use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers V.G.P.Shanthi Nagar Extension 2nd Cross Street?

The V.G.P.Shanthi Nagar Extension 2nd 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. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and compliance with legal standards.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with the transaction. Buyers and sellers must consider the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of V.G.P.Shanthi Nagar Extension 2nd Cross Street?

The current guideline value of V.G.P.Shanthi Nagar Extension 2nd Cross Street 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 increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. There was no change from 2012 to 2023, where the value remained at Rs 3,500 per sq.ft.

What is the land classification for V.G.P.Shanthi Nagar Extension 2nd Cross Street?

The land classification for V.G.P.Shanthi Nagar Extension 2nd Cross Street is Commercial Class I Type - I.

Where can I find the registration office for this area?

The registration office for V.G.P.Shanthi Nagar Extension 2nd Cross Street 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.

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

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