Guideline Value for V.G.P.Srinivasa Nagar North 4tht Street

V.G.P.Srinivasa Nagar North 4tht Street guideline value

The current guideline value of V.G.P.Srinivasa Nagar North 4tht 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 4tht Street has changed

The guideline value for V.G.P.Srinivasa Nagar North 4tht Street has undergone several revisions over the years. The oldest recorded revision is from 2012, when the value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. However, from 2017 to 2023, the value significantly increased by 49% to reach Rs 2,500 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

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, indicating that V.G.P.Srinivasa Nagar North 4tht Street's 2024 figure of Rs 2,700 per sq.ft is above this median.

• V.G.P.Srinivasa Nagar North 3rd 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 2nd 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 1st 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 4tht Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total of 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 also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers V.G.P.Srinivasa Nagar North 4tht Street?

The Sub Registrar Office that covers V.G.P.Srinivasa Nagar North 4tht 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, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Rajakilpakkam. It serves as a reference point for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures that both buyers and sellers are aware of the financial implications of their transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value for V.G.P.Srinivasa Nagar North 4tht Street?

The current guideline value for V.G.P.Srinivasa Nagar North 4tht 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 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase. From 2017 to 2023, it increased by 49% from Rs 1,675 per sq.ft.

What are the other streets in Rajakilpakkam with the same guideline value?

Other streets in Rajakilpakkam with the same guideline value of Rs 2,700 per sq.ft include V.G.P.Srinivasa Nagar North 1st, 2nd, 3rd, 5th, 6th, and 7th Streets.

What is the role of the Selaiyur SRO?

The Selaiyur SRO is responsible for the registration of property transactions in the Rajakilpakkam area. It ensures that all transactions are recorded according to the established guideline values, facilitating transparency and legal compliance.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 and a registration fee of Rs 54,000.