Guideline Value

Corporate

Guideline Value for VGP Nagar Main Road

₹4400/sq.ft.

The guideline value for Vgp Nagar Main Road 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 N/A
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 Nagar Main Road

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VGP Nagar Main Road guideline value

The current guideline value of VGP Nagar Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road 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 Nagar Main Road has changed

In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. This figure then decreased to Rs 2,680 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase to Rs 4,000 per sq.ft in the 2023 revision, followed by a further rise to Rs 4,400 per sq.ft in the 2024 revision, which is an increase of 10% from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 figure to that of 2024, there has been a 10% increase in the guideline value.

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 Nagar Main Road.

Stamp duty and registration fee for property in VGP Nagar Main Road

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 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers VGP Nagar Main Road?

The Sub Registrar Office that covers VGP Nagar Main Road 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 an essential factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Velachery, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

During the registration process, the buyer must ensure that the sale price is not lower than the guideline value. This helps maintain transparency and prevents undervaluation of properties in the area.

Frequently asked questions

What is the current guideline value of VGP Nagar Main Road?

The current guideline value of VGP Nagar Main Road 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 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for VGP Nagar Main Road?

The land classification for VGP Nagar Main Road is Residential Class II Type - II.

Where can I find the Sub Registrar Office for VGP Nagar Main Road?

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

How is stamp duty calculated for properties in VGP Nagar Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.