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Guideline Value

Corporate

Guideline Value for VGP Selva Nagar 1st Cross Street

₹4400/sq.ft.

The guideline value for Vgp Selva Nagar 1st 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 N/A
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2725 /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 Selva Nagar 1st Cross Street

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VGP Selva Nagar 1st Cross Street guideline value

The current guideline value for VGP Selva Nagar 1st 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 Selva Nagar 1st Cross Street has changed

The guideline value for VGP Selva Nagar 1st Cross Street has seen several revisions over the years. The 2007 revision set the value at Rs 2,725 per sq.ft, which increased by 47% to Rs 4,000 per sq.ft in the 2012 revision. There was no figure registered for this street in the 2017, 2003, and 2002 revisions. The value remained unchanged at Rs 4,000 per sq.ft from 2012 until the 2023 revision, which then increased to Rs 4,400 per sq.ft, marking a 10% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 61%. The current figure of Rs 4,400 per sq.ft is now equal to the median guideline value for other streets in Velachery for the year 2024.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with 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 guideline value for VGP Selva Nagar 1st Cross Street. Below are the guideline values for other streets in Velachery:

Stamp duty and registration fee for property in VGP Selva Nagar 1st 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, making the total charges 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 Selva Nagar 1st Cross Street?

The VGP Selva Nagar 1st Cross Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government collects the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the minimum value at which a property can be registered. This value is essential for both buyers and sellers to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of VGP Selva Nagar 1st Cross Street?

The current guideline value of VGP Selva Nagar 1st 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 2,725 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 61% over the years.

What is the land classification for VGP Selva Nagar 1st Cross Street?

VGP Selva Nagar 1st Cross Street is classified as Residential Class II Type - II.

Where can I find the registration office for VGP Selva Nagar 1st Cross Street?

The registration office for VGP Selva Nagar 1st Cross Street 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 property transactions?

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