Guideline Value for VGP RAJESH NAGAR 2ND MAIN ROAD

Vgp Rajesh Nagar 2nd Main Road guideline value

The current guideline value of Vgp Rajesh Nagar 2nd Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Vgp Rajesh Nagar 2nd Main Road has changed

The guideline value for Vgp Rajesh Nagar 2nd Main Road has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, an increase of 10% from the 2023 revision of Rs 2,500 per sq.ft. Prior to that, the 2012 revision also recorded a guideline value of Rs 2,500 per sq.ft. Notably, there are no figures available for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The absence of figures for certain years indicates that the guideline value remained unchanged during those periods.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values for 2024 ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, placing Vgp Rajesh Nagar 2nd Main Road's 2024 figure above this median.

• Vgp Rajesh Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Vgp Rajeshnagar 2nd Street: Rs 2,750 per sq.ft (2024)
• V.G.P.Rajesh Nagar 1st Main Road: Rs 3,850 per sq.ft (2024)
• Vgp Rajesh Nagar 3rd Main Road: Rs 2,750 per sq.ft (2024)
• V.G.P. Rajesh Nagar: Rs 3,850 per sq.ft (2024)
• V.G.P.Rajesh Nagar 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Vgp Rajesh Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, these costs total Rs 2,47,500. 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 precise calculations based on your specific property details.

Which Sub Registrar Office covers Vgp Rajesh Nagar 2nd Main Road?

The Vgp Rajesh Nagar 2nd Main Road is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When you register a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are compliant with the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Vgp Rajesh Nagar 2nd Main Road?

The current guideline value of Vgp Rajesh Nagar 2nd Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, marking a 10% increase. There has been no change from 2012 to 2023, and the overall increase from 2012 to 2024 is 10%.

What is the land classification for Vgp Rajesh Nagar 2nd Main Road?

The land classification for Vgp Rajesh Nagar 2nd Main Road is Residential Special Type - I.

What are the registration fees for property in Vgp Rajesh Nagar 2nd Main Road?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500. These fees are based on the guideline value.

Which office handles the registration for Vgp Rajesh Nagar 2nd Main Road?

The registration for Vgp Rajesh Nagar 2nd Main Road is handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.