Guideline Value for V.G.P.SHANTHI NAGAR KANCHI STREET

V.G.P.Shanthi Nagar Kanchi Street guideline value

The current guideline value of V.G.P.Shanthi Nagar Kanchi 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 with a land classification of Commercial Class I Type - I.

How the guideline value of V.G.P.Shanthi Nagar Kanchi Street has changed

The guideline value for V.G.P.Shanthi Nagar Kanchi Street has undergone several revisions over the years. The 2012 revision recorded a guideline value of Rs 3,500 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was updated to Rs 3,500 per sq.ft, and then increased by 10% to Rs 3,850 per sq.ft in the 2024 revision.

There are no recorded figures for the years 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pallikaranai

Pallikaranai has 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.Shanthi Nagar Kanchi Street above that median.

• V.G.P.Shanthi Nagar Extension 2nd Cross 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 Extension 1st Cross Street: Rs 3,850 per sq.ft (2024)
• V.G.P.Shanthi Nagar Main Road: 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 Mullai Street: Rs 3,850 per sq.ft (2024)

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

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 at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.P.Shanthi Nagar Kanchi Street?

The Sub Registrar Office that covers V.G.P.Shanthi Nagar Kanchi 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. 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 a critical factor during the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. It is essential for both buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements and to understand the financial obligations involved in the registration process.

Frequently asked questions

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

The current guideline value of V.G.P.Shanthi Nagar Kanchi 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 changed from Rs 3,500 per sq.ft in 2012 to Rs 3,500 per sq.ft in 2023, and then increased to Rs 3,850 per sq.ft in 2024. Overall, from 2012 to 2024, it has increased by 10%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. The duty is charged on the higher of the guideline value or the sale price.

Which office handles the registration of properties in V.G.P.Shanthi Nagar Kanchi Street?

The registration of properties in V.G.P.Shanthi Nagar Kanchi Street is handled 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.

What is the land classification for V.G.P.Shanthi Nagar Kanchi Street?

The land classification for V.G.P.Shanthi Nagar Kanchi Street is Commercial Class I Type - I, indicating its suitability for commercial activities.