Guideline Value

Corporate

Guideline Value for VGP Selva Nagar Extn II

₹4400/sq.ft.

The guideline value for Vgp Selva Nagar Extn Ii in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. 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 N/A
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 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 Ii

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VGP Selva Nagar Extn II guideline value

The current guideline value of VGP Selva Nagar Extn II is Rs 4,400 per sq.ft, effective from 1 July 2024. This area 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 Extn II has changed

The guideline value for VGP Selva Nagar Extn II has seen significant changes over the years. The 2017 revision set the value at Rs 2,680 per sq.ft. Following this, the 2024 revision increased the guideline value to Rs 4,400 per sq.ft, marking a change of +64% from the previous revision.

It is important to note that there are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street. Thus, the only revisions with figures are from 2017 and 2024.

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 is Rs 4,400 per sq.ft, which is equal to the current guideline value of VGP Selva Nagar Extn II.

Stamp duty and registration fee for property in VGP Selva Nagar Extn II

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. Note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers VGP Selva Nagar Extn II?

The VGP Selva Nagar Extn II area falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value serves as a benchmark for property transactions in Velachery. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of VGP Selva Nagar Extn II?

The current guideline value of VGP Selva Nagar Extn II is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2017 revision of Rs 2,680 per sq.ft to the 2024 revision of Rs 4,400 per sq.ft, the guideline value has increased by +64%.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in VGP Selva Nagar Extn II is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Velacheri Sub Registrar Office?

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

How is the guideline value determined for properties in Velachery?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and prevailing market conditions in the area.