Guideline Value for V.G.P.Srinivasa Nagar North 7th Street

V.G.P.Srinivasa Nagar North 7th Street guideline value

The current guideline value for V.G.P.Srinivasa Nagar North 7th 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 7th Street has changed

The guideline value for V.G.P.Srinivasa Nagar North 7th Street has seen several revisions over the years. The 2012 revision recorded a value of Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the guideline value to Rs 2,500 per sq.ft. The most recent 2024 revision has set the value at Rs 2,700 per sq.ft, marking an increase of 8% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The significant change occurred between the 2017 and 2023 revisions, where there was a 49% increase. Notably, the revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

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 guideline value in this area is Rs 2,150 per sq.ft, placing V.G.P.Srinivasa Nagar North 7th Street above this median.

• V.G.P.Srinivasa Nagar North 6th Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar North 8th 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 South 1st Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar North 4tht Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar South 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P.Srinivasa Nagar North 7th 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.P.Srinivasa Nagar North 7th Street?

The Sub Registrar Office that covers V.G.P.Srinivasa Nagar North 7th 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 Rajakilpakkam

The guideline value is a crucial factor during the registration of property transactions in Rajakilpakkam. It serves as the basis for calculating the stamp duty and registration fees that are applicable to the sale of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the registration office uses the guideline value to determine the applicable fees. This means that the guideline value can affect the overall cost of buying or selling property in the area.

Frequently asked questions

What is the current guideline value for V.G.P.Srinivasa Nagar North 7th Street?

The current guideline value for V.G.P.Srinivasa Nagar North 7th 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 V.G.P.Srinivasa Nagar North 7th Street?

The land classification for V.G.P.Srinivasa Nagar North 7th Street is Residential Special Type - I.

What is the median guideline value for streets in Rajakilpakkam?

The median guideline value for streets in Rajakilpakkam is Rs 2,150 per sq.ft, making the guideline value for V.G.P.Srinivasa Nagar North 7th Street above this median.

Where is the Selaiyur Sub Registrar Office located?

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