Guideline Value

Corporate

Guideline Value for VGP 3rd Cross Street

₹4400/sq.ft.

The guideline value for Vgp 3rd Cross Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹518 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹286 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[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 Vgp 3rd Cross Street

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VGP 3rd Cross Street guideline value

The current guideline value of VGP 3rd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of VGP 3rd Cross Street has changed

The guideline value for VGP 3rd Cross Street has seen several revisions over the years. In 2002, the value was Rs 286 per sq.ft, which increased to Rs 518 per sq.ft in 2003, marking an increase of 81%. The value continued to rise significantly, reaching Rs 1,800 per sq.ft in 2007, a change of 247%. By 2012, the value remained at Rs 4,000 per sq.ft, showing no change from the previous revision. In 2023, the guideline value was again Rs 4,000 per sq.ft, and in the latest revision for 2024, it increased to Rs 4,400 per sq.ft, reflecting a 10% rise.

It is important to note that there is no figure available for the year 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,438%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, which is the same as the current value for VGP 3rd Cross Street.

Stamp duty and registration fee for property in VGP 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 VGP 3rd Cross Street?

The VGP 3rd Cross Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Velachery. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, it is essential to consider the guideline value, as it directly impacts the total cost involved in the registration process. Understanding the guideline value helps ensure that buyers are prepared for the financial obligations associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of VGP 3rd Cross Street?

The current guideline value of VGP 3rd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 286 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1,438% over the years.

What is the stamp duty rate for properties in VGP 3rd Cross Street?

The stamp duty rate for properties in VGP 3rd Cross Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for VGP 3rd Cross Street?

The Sub Registrar Office covering VGP 3rd Cross Street is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the other streets in Velachery with the same guideline value?

Other streets in Velachery with the same guideline value of Rs 4,400 per sq.ft include VGP 1st Cross Street, VGP 2nd Cross Street, VGP Avenue, VGP Avenue Road/Seethapathy (Dr) Nagar, VGP Baby Nagar, and VGP Baby Nagar 1st Cross Street.