Guideline Value for V.G.P.Srinivasa Nagar North 8th Street

V.G.P.Srinivasa Nagar North 8th Street guideline value

The current guideline value for V.G.P.Srinivasa Nagar North 8th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village under the Selaiyur SRO, classified as Residential Special Type - I.

How the guideline value of V.G.P.Srinivasa Nagar North 8th Street has changed

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

From the 2012 revision to the 2024 revision, the overall change is an increase of 8%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a guideline value for 2024, 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 8th Street above this median value.

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

Stamp duty and registration fee for property in V.G.P.Srinivasa Nagar North 8th 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, bringing the total cost for these fees 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 calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.P.Srinivasa Nagar North 8th Street?

The Sub Registrar Office that covers V.G.P.Srinivasa Nagar North 8th 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 information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Rajakilpakkam. It serves as a standard reference for determining the minimum value at which property transactions can be registered.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the state receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for V.G.P.Srinivasa Nagar North 8th Street?

The current guideline value for V.G.P.Srinivasa Nagar North 8th 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 back 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 8th Street?

The land classification for V.G.P.Srinivasa Nagar North 8th Street is 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 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, for a 1,000 sq.ft plot at Rs 2,700 per sq.ft, the total guideline value is Rs 27,00,000.