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Guideline Value

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Guideline Value for VGN MAHALAKSHMI NAGAR MAIN ROAD

₹3190/sq.ft.

The guideline value for Vgn Mahalakshmi Nagar Main Road in Perumalagaram village (Chennai South Joint Ii SRO, Chennai zone) is Rs 3190 per sq.ft, effective 1 July 2024. It was Rs 2900 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class V Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Perumalagaram

Village

Chennai South Joint II

SRO

Residential Class V Type - I
History
Period Guideline Value
From 1-7-2024 ₹3190 /sq.ft.
From 1-4-2023 ₹2900 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1943 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2900 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Vgn Mahalakshmi Nagar Main Road

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Vgn Mahalakshmi Nagar Main Road guideline value

The current guideline value of Vgn Mahalakshmi Nagar Main Road is Rs 3,190 per sq.ft, effective from 1 July 2024. This road is located in Perumalagaram village, under the Chennai South Joint II SRO, and is classified as Residential Class V Type - I.

How the guideline value of Vgn Mahalakshmi Nagar Main Road has changed

The guideline value for Vgn Mahalakshmi Nagar Main Road has undergone several revisions over the years. In 2012, the value was Rs 2,900 per sq.ft, which then decreased to Rs 1,943 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 2,900 per sq.ft in 2023, and then further increased to the current rate of Rs 3,190 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 825 to Rs 7,920 per sq.ft. The median guideline value is Rs 3,190 per sq.ft, which is equal to the current figure for Vgn Mahalakshmi Nagar Main Road.

Stamp duty and registration fee for property in Vgn Mahalakshmi Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value would be Rs 31,90,000. The stamp duty at 7% would amount to Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, making the total amount Rs 2,87,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Vgn Mahalakshmi Nagar Main Road?

The Sub Registrar Office that covers Vgn Mahalakshmi Nagar Main Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perumalagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value is considered alongside the sale price. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vgn Mahalakshmi Nagar Main Road?

The current guideline value of Vgn Mahalakshmi Nagar Main Road is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,900 per sq.ft in 2012 to Rs 1,943 per sq.ft in 2017, then to Rs 2,900 per sq.ft in 2023, and finally to Rs 3,190 per sq.ft in 2024.

What is the stamp duty rate for properties in Vgn Mahalakshmi Nagar Main Road?

The stamp duty rate for properties in Vgn Mahalakshmi Nagar Main Road is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vgn Mahalakshmi Nagar Main Road?

The Sub Registrar Office for Vgn Mahalakshmi Nagar Main Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the other streets in Perumalagaram with their guideline values?

Other streets in Perumalagaram include Vgn Mahalakshmi Nagar Phase - XII and Phase XIII, both at Rs 7,920 per sq.ft, Vgn Mahalakshmi Nagar Cross Street and Venkatesan Street at Rs 3,190 per sq.ft, and Vadanoombal Cherry at Rs 2,970 per sq.ft.