Guideline Value for V.G.P.Srinivasa Nagar South 4th Street

V.G.P.Srinivasa Nagar South 4th Street guideline value

The current guideline value of V.G.P.Srinivasa Nagar South 4th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of V.G.P.Srinivasa Nagar South 4th Street has changed

The guideline value for V.G.P.Srinivasa Nagar South 4th Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value saw a significant increase to Rs 2,500 per sq.ft, and then further increased to Rs 2,700 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, the guideline value increased by 8% from 2023 to 2024. The increase from 2017 to 2023 was 49%, while 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. The median guideline value in this area is Rs 2,150 per sq.ft, placing V.G.P.Srinivasa Nagar South 4th Street above this median value.

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

Stamp duty and registration fee for property in V.G.P.Srinivasa Nagar South 4th 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, totaling 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 further calculations.

Which Sub Registrar Office covers V.G.P.Srinivasa Nagar South 4th Street?

The Sub Registrar Office that covers V.G.P.Srinivasa Nagar South 4th 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, within 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 when buying or selling property in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value influences the stamp duty and registration fees applicable during the transaction.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of V.G.P.Srinivasa Nagar South 4th Street?

The current guideline value of V.G.P.Srinivasa Nagar South 4th 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?

The land classification for V.G.P.Srinivasa Nagar South 4th 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 is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.