Guideline Value for V.G.P.Srinivasa Nagar North 1st Street

V.G.P.Srinivasa Nagar North 1st Street guideline value

The current guideline value of V.G.P.Srinivasa Nagar North 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

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

The guideline value for V.G.P.Srinivasa Nagar North 1st Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase from Rs 2,500 per sq.ft in 2023, representing an 8% rise. Prior to that, in 2017, the figure was Rs 1,675 per sq.ft, indicating a significant increase of 49% over the six years until 2023. There are no figures available for the revisions in 2002, 2003, and 2007.

In the earlier revisions, the guideline value was Rs 2,500 per sq.ft in 2012, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 8% from Rs 2,500 per sq.ft to Rs 2,700 per sq.ft.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft, placing the guideline value for V.G.P.Srinivasa Nagar North 1st Street above this median.

• V.G.P.Srinivasa Nagar North 2nd Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar North 3rd Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar North 4th Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar North 5th Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar North 6th Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar North 7th Street: Rs 2,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations based on your property details.

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

The V.G.P.Srinivasa Nagar North 1st Street falls under 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 information.

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

The guideline value is a crucial factor during the registration process of property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a buyer or seller engages in a transaction, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, thereby ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value of V.G.P.Srinivasa Nagar North 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024, with various revisions in between, including Rs 2,500 per sq.ft in 2023 and 2012.

What is the land classification of V.G.P.Srinivasa Nagar North 1st Street?

V.G.P.Srinivasa Nagar North 1st Street is classified as Residential Special Type - I.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees using the stamp duty and registration fee calculator.

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

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