Guideline Value

Corporate

Guideline Value for VGP Selva Nagar 6th Street

₹4400/sq.ft.

The guideline value for Vgp Selva Nagar 6th 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 6th Street

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VGP Selva Nagar 6th Street guideline value

The current guideline value of VGP Selva Nagar 6th 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 the land classification is Residential Class II Type - II.

How the guideline value of VGP Selva Nagar 6th Street has changed

The guideline value for VGP Selva Nagar 6th Street has undergone several revisions over the years. The 2007 revision recorded a value of Rs 2,725 per sq.ft, which slightly decreased to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 4,000 per sq.ft in 2023, and further rose to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, there has been a 61% increase. Notably, there are no recorded figures for the years 2002, 2003, and 2012 for this street.

Guideline values in Velachery

In Velachery, there are a total of 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 is the same as the guideline value for VGP Selva Nagar 6th Street. Below are the guideline values for other streets in Velachery:

Stamp duty and registration fee for property in VGP Selva Nagar 6th 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. Together, the total cost would be Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers VGP Selva Nagar 6th Street?

The VGP Selva Nagar 6th Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is not below the guideline value, as the duty is charged on the higher of the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of VGP Selva Nagar 6th Street?

The current guideline value of VGP Selva Nagar 6th 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 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the stamp duty rate for properties in Velachery?

The stamp duty rate for properties in Velachery is 7%, which is applicable on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for VGP Selva Nagar 6th Street?

The Sub Registrar Office for VGP Selva Nagar 6th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of VGP Selva Nagar 6th Street?

The land classification for VGP Selva Nagar 6th Street is Residential Class II Type - II.