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Guideline Value

Corporate

Guideline Value for VGP Baby Nagar 2nd Cross Street

₹4400/sq.ft.

The guideline value for Vgp Baby Nagar 2nd 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 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
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 N/A
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 Baby Nagar 2nd Cross Street

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VGP Baby Nagar 2nd Cross Street guideline value

The current guideline value of VGP Baby Nagar 2nd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of VGP Baby Nagar 2nd Cross Street has changed

The guideline value for VGP Baby Nagar 2nd Cross Street has seen significant changes over the years. In the 2007 revision, the value was Rs 1,800 per sq.ft, which increased to Rs 2,680 per sq.ft in 2017, marking a 49% rise. The next revision in 2023 set the value at Rs 4,000 per sq.ft, another 49% increase. The most recent revision in 2024 raised it to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

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

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 is Rs 4,400 per sq.ft, which is equal to the 2024 figure for VGP Baby Nagar 2nd Cross Street.

Stamp duty and registration fee for property in VGP Baby Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be 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, making the total 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers VGP Baby Nagar 2nd Cross Street?

The Sub Registrar Office that covers VGP Baby Nagar 2nd Cross Street is 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 is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Velachery. It serves as a benchmark for the minimum value at which a property can be registered.

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 all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of VGP Baby Nagar 2nd Cross Street?

The current guideline value of VGP Baby Nagar 2nd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 144%.

What is the median guideline value in Velachery?

The median guideline value in Velachery is Rs 4,400 per sq.ft, which is the same as the current guideline value for VGP Baby Nagar 2nd Cross Street.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2%. For a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.

Where is the Sub Registrar Office located for VGP Baby Nagar 2nd Cross Street?

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