Guideline Value

Corporate

Guideline Value for VGP Selva Nagar 1st Street

₹4400/sq.ft.

The guideline value for Vgp Selva Nagar 1st 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 ₹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 Street

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

VGP Selva Nagar 1st Street guideline value

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

The guideline value for VGP Selva Nagar 1st Street has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 2,725 per sq.ft. This increased to Rs 4,000 per sq.ft in 2012, marking a rise of 47%. However, by 2017, the value dropped to Rs 2,680 per sq.ft, a decrease of 33%. The subsequent revision in 2023 saw a significant increase to Rs 4,000 per sq.ft, followed by a further rise to Rs 4,400 per sq.ft in 2024, which represents a 10% increase.

In summary, the guideline value has changed from Rs 2,725 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, resulting in an overall increase of 61% over this period. The revisions for 2002 and 2003 do not have any figures recorded for this street.

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 for these streets is Rs 4,400 per sq.ft, which is equal to the 2024 figure for VGP Selva Nagar 1st Street.

Stamp duty and registration fee for property in VGP Selva Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to 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, bringing the total fees together to Rs 3,96,000. It is important to note that 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 Street?

The Sub Registrar Office covering VGP Selva Nagar 1st 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 details.

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

The guideline value is a crucial factor during property transactions in Velachery. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the sale process.

When a property is sold, the guideline value serves as a benchmark for calculating the necessary fees. It ensures that both parties are aware of the financial implications of the transaction, including the costs associated with registration and stamp duty.

Frequently asked questions

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

The current guideline value of VGP Selva Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much 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, showing an overall increase of 61% during this period.

What are the stamp duty rates applicable in VGP Selva Nagar 1st Street?

The stamp duty rate applicable in VGP Selva Nagar 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

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

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

VGP Selva Nagar 1st Street is classified as Residential Class II Type - II according to the local land classification.