Guideline Value for VGP Baby Nagar 1st Cross Street

VGP Baby Nagar 1st Cross Street guideline value

The current guideline value of VGP Baby Nagar 1st 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 Baby Nagar 1st Cross Street has changed

The guideline value for VGP Baby Nagar 1st Cross Street has seen several revisions over the years. The earliest recorded value was Rs 1,800 per sq.ft in 2007. This increased to Rs 2,680 per sq.ft in 2017, marking a change of +49%. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which is an increase of +64% from the 2017 figure.

Overall, from 2007 to 2024, the guideline value has increased by +144%. It is important to note that there are no figures available for the years 2023, 2012, 2003, and 2002 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a guideline value for 2024, 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 the current value for VGP Baby Nagar 1st Cross Street.

• VGP Baby Nagar: Rs 4,400 per sq.ft (2024)
• VGP Baby Nagar 1st Main Road: Rs 4,400 per sq.ft (2024)
• VGP Baby Nagar 20feet Service Road facing 100ft Taramani Link Road: Rs 13,200 per sq.ft (2024)
• VGP Baby Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• VGP Avenue Road/Seethapathy (Dr) Nagar: Rs 4,400 per sq.ft (2024)
• VGP Baby Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in VGP Baby Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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, totaling Rs 3,96,000. Please 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 VGP Baby Nagar 1st Cross Street?

The VGP Baby Nagar 1st Cross Street is covered by the Velacheri Sub Registrar Office located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Velachery. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is compared to 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 Baby Nagar 1st Cross Street?

The current guideline value of VGP Baby Nagar 1st 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 increased from Rs 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of +144% over the years.

Where can I find the registration office for VGP Baby Nagar 1st Cross Street?

The registration office for VGP Baby Nagar 1st Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the stamp duty rates for property in VGP Baby Nagar 1st Cross Street?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

What is the land classification for VGP Baby Nagar 1st Cross Street?

The land classification for VGP Baby Nagar 1st Cross Street is Residential Class II Type - II.