Guideline Value for V.G.P.Srinivasa Nagar South 6th street

V.G.P.Srinivasa Nagar South 6th street guideline value

The current guideline value of V.G.P.Srinivasa Nagar South 6th 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 South 6th street has changed

Over the years, the guideline value for V.G.P.Srinivasa Nagar South 6th street has experienced several revisions. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, which is an increase from Rs 2,500 per sq.ft in 2023, marking an 8% rise. The 2023 figure was itself a significant increase from Rs 1,675 per sq.ft in 2017, reflecting a 49% change. The guideline value was Rs 2,500 per sq.ft in 2012, which was a decrease of 33% from the 2017 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

When considering the overall change from 2012 to 2024, the guideline value has increased by 8%. This trajectory highlights the fluctuations in property valuation over the years, with the latest figure showing a positive adjustment in the current real estate landscape.

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 6th street above this median at Rs 2,700 per sq.ft.

• V.G.P.Srinivasa Nagar South 5th 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 4th 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 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 6th 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, bringing the total 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.G.P.Srinivasa Nagar South 6th street?

The V.G.P.Srinivasa Nagar South 6th 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 in the property registration process in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value. This value is essential for calculating the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, it is important to be aware of the current guideline value, as it directly affects the financial obligations involved in the transaction. Buyers and sellers should ensure they are informed about the latest revisions to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of V.G.P.Srinivasa Nagar South 6th street?

The current guideline value of V.G.P.Srinivasa Nagar South 6th 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 1,675 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024, with several revisions in between. The most recent increase was from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024.

What is the land classification for this street?

V.G.P.Srinivasa Nagar South 6th street is classified as Residential Special Type - I, indicating its intended use for residential purposes.

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.

How is 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, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.