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Guideline Value

Corporate

Guideline Value for VGP Baby Nagar 5th Cross Street

₹4400/sq.ft.

The guideline value for Vgp Baby Nagar 5th 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 5th Cross Street

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VGP Baby Nagar 5th Cross Street guideline value

The current guideline value of VGP Baby Nagar 5th 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 5th Cross Street has changed

The guideline value for VGP Baby Nagar 5th Cross Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. However, there was a decrease to Rs 2,680 per sq.ft in 2017. The value then rose significantly to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as per the 2024 revision. Notably, the register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 is 10%. The overall increase from the 2007 revision to the 2024 revision is 144%. The fluctuations in value reflect the changes in the real estate landscape in the area.

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 value is Rs 4,400 per sq.ft, which is the same as the current value for VGP Baby Nagar 5th Cross Street.

Stamp duty and registration fee for property in VGP Baby Nagar 5th 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 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. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers VGP Baby Nagar 5th Cross Street?

The Sub Registrar Office that covers VGP Baby Nagar 5th 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 the registration process for property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value helps both parties understand the official value of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set a competitive price based on this value.

Frequently asked questions

What is the current guideline value of VGP Baby Nagar 5th Cross Street?

The current guideline value of VGP Baby Nagar 5th 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 is the land classification for VGP Baby Nagar 5th Cross Street?

The land classification for VGP Baby Nagar 5th Cross Street is Residential Class II Type - II.

What is the stamp duty rate for property in VGP Baby Nagar 5th Cross Street?

The stamp duty rate for property transactions in VGP Baby Nagar 5th Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for VGP Baby Nagar 5th Cross Street?

The Sub Registrar Office for VGP Baby Nagar 5th Cross Street is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.