Guideline Value

Corporate

Guideline Value for VGP Avenue

₹4400/sq.ft.

The guideline value for Vgp Avenue 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 N/A
From 1-4-2002 To 31-3-2003 ₹600 /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 Avenue

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VGP Avenue guideline value

The current guideline value of VGP Avenue, located in Velachery village under the Velacheri SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of VGP Avenue has changed

The guideline value for VGP Avenue has seen significant changes over the years. Starting from Rs 600 per sq.ft in 2002, it increased to Rs 1,800 per sq.ft in 2007, marking a 200% rise. By 2012, the value remained at Rs 4,000 per sq.ft, and this figure held steady until 2023, when it again reached Rs 4,000 per sq.ft. In 2024, the value rose to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2003 and 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 633%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is the same as that of VGP Avenue.

Stamp duty and registration fee for property in VGP Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, leading to a total of Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers VGP Avenue?

The VGP Avenue falls under the jurisdiction of 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 details.

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

The guideline value is a crucial factor in the registration process for property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of VGP Avenue?

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

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 600 per sq.ft to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 633%.

What is the stamp duty rate for properties in VGP Avenue?

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

Where can I find the Sub Registrar Office for VGP Avenue?

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

Are there other streets with the same guideline value in Velachery?

Yes, there are several other streets in Velachery that share the same guideline value of Rs 4,400 per sq.ft, including VGP Baby Nagar and VGP Avenue Road/Seethapathy (Dr) Nagar.