Guideline Value

Corporate

Guideline Value for VGP Selva Nagar Extn 1St Main Road

₹3850/sq.ft.

The guideline value for Vgp Selva Nagar Extn 1st Main Road in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
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 Extn 1st Main Road

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VGP Selva Nagar Extn 1St Main Road guideline value

The current guideline value of VGP Selva Nagar Extn 1St Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Velachery village and falls under the Velacheri SRO. The land classification for this street is Residential Class II Type - III.

How the guideline value of VGP Selva Nagar Extn 1St Main Road has changed

Over the years, the guideline value for VGP Selva Nagar Extn 1St Main Road has seen several revisions. In 2012, the guideline value was Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in 2017. Following this, there was a significant increase to Rs 3,500 per sq.ft in 2023, and then a further rise to the current value of Rs 3,850 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have 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, placing VGP Selva Nagar Extn 1St Main Road's value below this median.

Stamp duty and registration fee for property in VGP Selva Nagar Extn 1St Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers VGP Selva Nagar Extn 1St Main Road?

The VGP Selva Nagar Extn 1St Main Road is covered by 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 information.

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

When buying or selling property in Velachery, the guideline value is a critical factor used during the registration process. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction.

The guideline value helps to standardize property valuations in the area, providing a transparent framework for property transactions. This ensures that all parties involved have a clear understanding of the costs associated with buying or selling property in Velachery.

Frequently asked questions

What is the current guideline value of VGP Selva Nagar Extn 1St Main Road?

The current guideline value of VGP Selva Nagar Extn 1St Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,850 per sq.ft in 2024.

What is the stamp duty rate for properties in VGP Selva Nagar Extn 1St Main Road?

The stamp duty rate for properties in VGP Selva Nagar Extn 1St Main Road is 7%, which is calculated based on the higher of the guideline value or the sale price.

Where can I find the registration office for VGP Selva Nagar Extn 1St Main Road?

The registration office for VGP Selva Nagar Extn 1St Main Road is the Velacheri Sub Registrar Office, 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, with VGP Selva Nagar Extn 1St Main Road's value being below this median at Rs 3,850 per sq.ft.