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

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

The current guideline value for V.G.P.Shanthi Nagar Pari 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 Pari Street has changed

Since the 2012 revision, the guideline value for V.G.P.Shanthi Nagar Pari Street has seen significant changes. The 2012 revision set the value at Rs 3,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 2,345 per sq.ft. The 2023 revision increased the value to Rs 3,500 per sq.ft, and the latest 2024 revision has raised it to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are a total of 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 guideline value in this area is Rs 1,650 per sq.ft, making the 2024 figure for V.G.P.Shanthi Nagar Pari Street above the median.

• V.G.P. Shanthi Nagar Mullai Street: Rs 3,850 per sq.ft (2024)
• V.G.P.Shanthi Nagar Raja Veethi: 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 Santhosh 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 V.O.C.Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P.Shanthi Nagar Pari 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 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 detailed calculations.

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

The Sub Registrar Office that covers V.G.P.Shanthi Nagar Pari 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 information.

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

The guideline value plays a crucial role in the registration process 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 government receives appropriate revenue from property transactions.

When buying or selling property, it is essential to consider the guideline value, as it affects the stamp duty and registration fees that need to be paid. Buyers should be aware that the registration office will use the guideline value to calculate these fees, which can significantly impact the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of V.G.P.Shanthi Nagar Pari 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 2023 to Rs 3,850 per sq.ft in 2024, a 10% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012, showing fluctuations over the years.

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

The land classification for V.G.P.Shanthi Nagar Pari Street is Commercial Class I Type - I.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft, with V.G.P.Shanthi Nagar Pari Street's 2024 figure being above this median.

Where is the Sub Registrar Office for V.G.P.Shanthi Nagar Pari Street located?

The Sub Registrar Office covering V.G.P.Shanthi Nagar Pari Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.