Guideline Value for V.G.P.Srinivasa Nagar South 5th street

V.G.P.Srinivasa Nagar South 5th street guideline value

The current guideline value of V.G.P.Srinivasa Nagar South 5th 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 South 5th street has changed

The guideline value for V.G.P.Srinivasa Nagar South 5th street has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,500 per sq.ft. This value then decreased to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 2,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, reflecting 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, placing V.G.P.Srinivasa Nagar South 5th street's 2024 figure above the median.

• V.G.P.Srinivasa Nagar South 4th 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 3rd Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa 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 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P.Srinivasa Nagar South 5th 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, totaling Rs 2,43,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.P.Srinivasa Nagar South 5th street?

The V.G.P.Srinivasa Nagar South 5th street falls under the jurisdiction of 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 plays a crucial role during the registration of property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue in the form of stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for V.G.P.Srinivasa Nagar South 5th street?

The current guideline value for V.G.P.Srinivasa Nagar South 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 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 South 5th street?

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

What are the stamp duty and registration fees for property in this area?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.

Which office handles registrations for this street?

The Selaiyur Sub Registrar Office handles registrations for V.G.P.Srinivasa Nagar South 5th street, located at No.36, Bharathmatha Salai, Chennai - 600 073.