Guideline Value

Corporate

Guideline Value for VGP Selva Nagar 4th Street

₹4400/sq.ft.

The guideline value for Vgp Selva Nagar 4th 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 N/A
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 4th Street

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VGP Selva Nagar 4th Street guideline value

The current guideline value of VGP Selva Nagar 4th 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 4th Street has changed

The guideline value for VGP Selva Nagar 4th Street has seen several revisions over the years. In 2007, the guideline value was Rs 2,725 per sq.ft, which slightly decreased to Rs 2,680 per sq.ft in 2017. Following this, the value increased significantly to Rs 4,000 per sq.ft in 2023, and then further rose by 10% to Rs 4,400 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The overall change from 2007 to 2024 is an increase of 61%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2012 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 is Rs 4,400 per sq.ft, which is the same as the current value for VGP Selva Nagar 4th Street.

Stamp duty and registration fee for property in VGP Selva Nagar 4th 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, bringing the total 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.

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

Which Sub Registrar Office covers VGP Selva Nagar 4th Street?

The VGP Selva Nagar 4th 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 in property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties adhere to the legal requirements.

Understanding the guideline value is essential for both buyers and sellers, as it impacts the overall cost of the transaction. It is advisable to check the latest guideline values before proceeding with any property deal to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of VGP Selva Nagar 4th Street?

The current guideline value of VGP Selva Nagar 4th 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, marking an overall increase of 61% over the years.

What is the stamp duty rate for properties in VGP Selva Nagar 4th Street?

The stamp duty rate for properties in VGP Selva Nagar 4th 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.

What is the median guideline value for streets in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft, which is the same as the guideline value for VGP Selva Nagar 4th Street in 2024.