Guideline Value for V.G.P.Santhanammal Nagar 1st Street

V.G.P.Santhanammal Nagar 1st Street guideline value

The current guideline value of V.G.P.Santhanammal Nagar 1st Street is Rs 2,650 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village under the Selaiyur SRO, classified as Residential Class I Type - III.

How the guideline value of V.G.P.Santhanammal Nagar 1st Street has changed

The guideline value for V.G.P.Santhanammal Nagar 1st Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 2,500 per sq.ft, and the most recent 2024 revision has set the guideline value at Rs 2,650 per sq.ft.

From 2012 to 2017, the guideline value decreased by 33%. However, there was a significant increase of 49% from 2017 to 2023. The change from 2023 to 2024 reflects a 6% increase. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing V.G.P.Santhanammal Nagar 1st Street above this median.

• V.G.P.Santhanammal Nagar 2nd Street: Rs 2,650 per sq.ft (2024)
• V.G.P. Santhanamal Nagar Main Road: Rs 2,650 per sq.ft (2024)
• V.G.P.Santhanammal Nagar 3rd Street: Rs 2,650 per sq.ft (2024)
• V.G.P. Santhanamal Nagar 3rd Cross Street: Rs 2,650 per sq.ft (2024)
• V.G.P. Santhanamal Nagar 2nd Cross Street: Rs 2,650 per sq.ft (2024)
• V.G.P. Santhanamal Nagar 1st Cross Street: Rs 2,650 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,650 per sq.ft, the total guideline value amounts to Rs 26,50,000. The stamp duty at 7% would be Rs 1,85,500, and the registration fee at 2% would be Rs 53,000, bringing the total cost for these fees to Rs 2,38,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers V.G.P.Santhanammal Nagar 1st Street?

The Sub Registrar Office that covers V.G.P.Santhanammal Nagar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Gowrivakkam. 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, the guideline value is compared to the sale price, and the higher of the two is used to calculate stamp duty and registration fees. This ensures that property transactions are conducted transparently and fairly.

Frequently asked questions

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

The current guideline value of V.G.P.Santhanammal Nagar 1st Street is Rs 2,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,650 per sq.ft in 2024.

What is the land classification for V.G.P.Santhanammal Nagar 1st Street?

V.G.P.Santhanammal Nagar 1st Street is classified as Residential Class I Type - III.

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

For a property valued at Rs 26,50,000, the stamp duty is Rs 1,85,500 and the registration fee is Rs 53,000, totaling Rs 2,38,500.

Which office handles the registration for V.G.P.Santhanammal Nagar 1st Street?

The Selaiyur Sub Registrar Office handles the registration for V.G.P.Santhanammal Nagar 1st Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.