Guideline Value

Corporate

Guideline Value for VGP Selva Nagar Extn 1St Street

₹3850/sq.ft.

The guideline value for Vgp Selva Nagar Extn 1st Street 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 Street

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VGP Selva Nagar Extn 1St Street guideline value

The current guideline value of VGP Selva Nagar Extn 1St Street is Rs 3,850 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 - III.

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

The guideline value for VGP Selva Nagar Extn 1St Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in 2017. The 2023 revision set the value at Rs 3,500 per sq.ft, and the latest revision in 2024 increased it to Rs 3,850 per sq.ft.

From the 2012 to 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The recent change from 2023 to 2024 marks a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 for these streets is Rs 4,400 per sq.ft, placing VGP Selva Nagar Extn 1St Street's 2024 figure below that median.

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

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the 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 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.

You can calculate your stamp duty and registration fees using the stamp duty and registration fee calculator.

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

The VGP Selva Nagar Extn 1St 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 more details.

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 is used to determine the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for taxation purposes.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the costs involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value for VGP Selva Nagar Extn 1St Street?

The current guideline value for VGP Selva Nagar Extn 1St Street 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 from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. The value also saw a significant increase of 49% from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023.

What is the land classification for VGP Selva Nagar Extn 1St Street?

VGP Selva Nagar Extn 1St Street is classified as Residential Class II Type - III, indicating its designation for residential use.

Where can I find the registration office for this street?

The registration office for VGP Selva Nagar Extn 1St Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.