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Guideline Value

Corporate

Guideline Value for VGP Selva Nagar 2nd Cross Street

₹4400/sq.ft.

The guideline value for Vgp Selva Nagar 2nd 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 ₹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 2nd Cross Street

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VGP Selva Nagar 2nd Cross Street guideline value

The current guideline value of VGP Selva Nagar 2nd 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 2nd Cross Street has changed

The guideline value for VGP Selva Nagar 2nd Cross Street has undergone several revisions over the years. The 2007 revision recorded a value of Rs 2,725 per sq.ft, which changed to Rs 4,000 per sq.ft in the 2012 revision, reflecting a notable increase of 47%. However, the value decreased by 33% to Rs 2,680 per sq.ft in the 2017 revision. The guideline value then saw a significant rise to Rs 4,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% change.

In summary, the guideline value rose from Rs 2,725 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 61%. The register has no figures for the years 2002 and 2003 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 value is Rs 4,400 per sq.ft, which matches the guideline value of VGP Selva Nagar 2nd Cross Street.

Stamp duty and registration fee for property in VGP Selva Nagar 2nd 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, while the registration fee at 2% would be Rs 88,000, bringing the total cost for these charges to 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers VGP Selva Nagar 2nd Cross Street?

The VGP Selva Nagar 2nd Cross Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Velachery, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

Additionally, the guideline value serves as a reference point for both buyers and sellers, ensuring that transactions are conducted at a legally recognized value. It is essential for all parties involved in a property transaction to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of VGP Selva Nagar 2nd Cross Street?

The current guideline value of VGP Selva Nagar 2nd 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, with various revisions in between, including a decrease in 2017 and increases in 2023 and 2024.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in VGP Selva Nagar 2nd Cross Street is 7% of the guideline value or 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.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property and is essential for calculating the stamp duty and registration fees during property transactions.