Guideline Value

Corporate

Guideline Value for VGP Selva Nagar Extn 3rd Main Road

₹3850/sq.ft.

The guideline value for Vgp Selva Nagar Extn 3rd 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 3rd Main Road

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VGP Selva Nagar Extn 3rd Main Road guideline value

The current guideline value of VGP Selva Nagar Extn 3rd Main Road 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 3rd Main Road has changed

The guideline value for VGP Selva Nagar Extn 3rd Main Road has seen several revisions over the years. 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, the value significantly increased to Rs 3,500 per sq.ft in 2023 and further rose to Rs 3,850 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 have no figures available for this street in the register.

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 the guideline value of VGP Selva Nagar Extn 3rd Main Road below this median.

Stamp duty and registration fee for property in VGP Selva Nagar Extn 3rd 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, while 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 and the sale price.

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

Which Sub Registrar Office covers VGP Selva Nagar Extn 3rd Main Road?

The VGP Selva Nagar Extn 3rd 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

The guideline value is an important factor when registering property transactions in Velachery. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory for legal property transfers.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a value that reflects the official rates set by the government. This helps maintain transparency in property dealings and ensures compliance with legal requirements.

Frequently asked questions

What is the current guideline value for VGP Selva Nagar Extn 3rd Main Road?

The current guideline value for VGP Selva Nagar Extn 3rd 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 from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification for VGP Selva Nagar Extn 3rd Main Road?

VGP Selva Nagar Extn 3rd Main Road is classified as Residential Class II Type - III.

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

The stamp duty rate for properties in this area is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

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