Guideline Value for V.G.P.Srinivasa Nagar North 5th Street

V.G.P.Srinivasa Nagar North 5th Street guideline value

The current guideline value of V.G.P.Srinivasa Nagar North 5th Street is Rs 2,700 per sq.ft. 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 5th Street has changed

The guideline value for V.G.P.Srinivasa Nagar North 5th Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 2,500 per sq.ft. This figure remained until 2017, when it decreased to Rs 1,675 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, followed by a further increase to Rs 2,700 per sq.ft in the 2024 revision, effective from 1 July 2024. The register has no figure for this street for the years 2002, 2003, and 2007.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023. There was a decrease of 33% from 2012 to 2017. 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, with a median value of Rs 2,150 per sq.ft. The guideline value for V.G.P.Srinivasa Nagar North 5th Street is above this median.

• V.G.P.Srinivasa Nagar North 4tht 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 3rd Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar North 7th 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 8th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P.Srinivasa Nagar North 5th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the 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, bringing the total to Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.G.P.Srinivasa Nagar North 5th Street?

The Sub Registrar Office that covers V.G.P.Srinivasa Nagar North 5th 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 information.

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

The guideline value is an essential factor in 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 transparency in the property market.

When a property is bought or sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of V.G.P.Srinivasa Nagar North 5th Street?

The current guideline value of V.G.P.Srinivasa Nagar North 5th 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 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 2,700 per sq.ft in 2024.

What is the land classification for this street?

V.G.P.Srinivasa Nagar North 5th Street is classified as Residential Special Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.