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Guideline Value

Corporate

Guideline Value for VGP Baby Nagar 4th Cross Street

₹4400/sq.ft.

The guideline value for Vgp Baby Nagar 4th 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 ₹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 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 4th Cross Street

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VGP Baby Nagar 4th Cross Street guideline value

The current guideline value of VGP Baby Nagar 4th 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 4th Cross Street has changed

Starting from the oldest revision, the guideline value was Rs 1,800 per sq.ft in 2007. It then increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 122%. However, in 2017, the value dropped to Rs 2,680 per sq.ft, reflecting a decrease of 33%. The value saw a substantial increase to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, which is a 10% rise.

Overall, from 2007 to 2024, the guideline value has increased by 144%. The revisions for the years 2002 and 2003 do not have any figures listed for this street in the register.

Guideline values in Velachery

In Velachery village, 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 for these streets is Rs 4,400 per sq.ft, which is the same as the current guideline value for VGP Baby Nagar 4th Cross Street.

Stamp duty and registration fee for property in VGP Baby Nagar 4th 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. 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 Baby Nagar 4th Cross Street?

The Sub Registrar Office that covers VGP Baby Nagar 4th 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 details.

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

The guideline value is an essential factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of VGP Baby Nagar 4th Cross Street?

The current guideline value of VGP Baby Nagar 4th 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 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.

What are the stamp duty rates for property transactions in Velachery?

The stamp duty rate for property transactions in Velachery is 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for VGP Baby Nagar 4th Cross Street?

The Velacheri Sub Registrar Office is responsible for VGP Baby Nagar 4th Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and market conditions in the area. It is revised periodically to reflect changes in property values.