Guideline Value for VGP SALAI IIIRD STREET

Vgp Salai Iiird Street guideline value

The current guideline value of Vgp Salai Iiird Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vgp Salai Iiird Street has changed

Over the years, the guideline value for Vgp Salai Iiird Street has seen several revisions. The 2012 revision set the value at Rs 4,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 3,015 per sq.ft. The subsequent revision in 2023 raised the value to Rs 4,500 per sq.ft, and the latest revision in 2024 further increased it to Rs 4,950 per sq.ft, marking a 10% rise from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Vgp Salai Iiird Street's 2024 figure above this median.

• Vgp Salai Iind Street: Rs 4,950 per sq.ft (2024)
• Vgp Salai Ist Street: Rs 4,950 per sq.ft (2024)
• Vinayagam Koil Street: Rs 4,400 per sq.ft (2024)
• Vinayagam Pettai Street: Rs 6,050 per sq.ft (2024)
• V.O.C. Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• V.O.C. Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vgp Salai Iiird Street

For a 1,000 sq.ft plot at the current rate of Rs 4,950 per sq.ft, the guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vgp Salai Iiird Street?

The Sub Registrar Office that covers Vgp Salai Iiird Street is the Chennai South Joint II 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Saidapet. It serves as a basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a standard value recognized by the authorities.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vgp Salai Iiird Street?

The current guideline value of Vgp Salai Iiird Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2023 to Rs 4,950 per sq.ft in 2024. It was Rs 3,015 per sq.ft in 2017 and Rs 4,500 per sq.ft in 2012.

What is the land classification for Vgp Salai Iiird Street?

The land classification for Vgp Salai Iiird Street is Residential Class II Type - I.

Where can I find the registration office for Vgp Salai Iiird Street?

The registration office for Vgp Salai Iiird Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Vgp Salai Iiird Street?

The stamp duty for properties in Vgp Salai Iiird Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 at 7%.