Guideline Value

Corporate

Guideline Value for VGP Selva Nagar Extn.,

₹4400/sq.ft.

The guideline value for Vgp Selva Nagar Extn., 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 ₹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 Extn.,

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VGP Selva Nagar Extn., guideline value

The current guideline value of VGP Selva Nagar Extn., 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., has changed

The guideline value for VGP Selva Nagar Extn., has seen several revisions over the years. The 2007 revision set the guideline value at Rs 2,725 per sq.ft, which was then adjusted to Rs 2,680 per sq.ft in the 2017 revision. The most recent revision in 2024 has increased the guideline value to Rs 4,400 per sq.ft, marking a significant increase of 64% from the 2017 figure.

When looking at the overall changes, from the 2007 revision to the 2024 revision, the guideline value has increased by 61%. It is important to note that there are no figures available for the revisions in 2023, 2012, 2003, and 2002 for this street.

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, which is the same as the guideline value for VGP Selva Nagar Extn.

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

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, making the total cost for these fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers VGP Selva Nagar Extn.,?

The Sub Registrar Office that covers VGP Selva Nagar Extn., is 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 plays a crucial role in the registration process of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and transparently.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory charges. This means that both the buyer and seller must be aware of the guideline value to ensure compliance with local regulations during the transaction.

Frequently asked questions

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

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

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased by 61%, moving from Rs 2,725 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024.

What was the guideline value in 2017?

The guideline value in 2017 was Rs 2,680 per sq.ft, which was a decrease of 2% from the previous revision in 2007.

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 stamp duty calculated for properties in VGP Selva Nagar Extn.,?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.