Guideline Value

Corporate

Guideline Value for VGP Selva Nagar Main Salai

₹4400/sq.ft.

The guideline value for Vgp Selva Nagar Main Salai 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 Main Salai

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VGP Selva Nagar Main Salai guideline value

The current guideline value of VGP Selva Nagar Main Salai is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of VGP Selva Nagar Main Salai has changed

The guideline value for VGP Selva Nagar Main Salai has undergone several revisions over the years. The earliest figure available is from the 2007 revision, which was Rs 2,725 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in the 2017 revision. However, from 2017 to 2024, the guideline value increased significantly to Rs 4,400 per sq.ft, marking a change of +64%. Overall, from 2007 to 2024, the guideline value has increased by +61%.

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 guideline value is Rs 4,400 per sq.ft, which is equal to the guideline value of VGP Selva Nagar Main Salai.

Stamp duty and registration fee for property in VGP Selva Nagar Main Salai

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 cost to Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers VGP Selva Nagar Main Salai?

The Sub Registrar Office that covers VGP Selva Nagar Main Salai 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 additional 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 when buying or selling property in Velachery. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable stamp duty. This ensures that the transaction reflects the current market conditions and maintains transparency in property dealings.

Frequently asked questions

What is the current guideline value of VGP Selva Nagar Main Salai?

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

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,725 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, which is an overall increase of +61%. The value increased by +64% from 2017 to 2024.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the higher value between the guideline value and the sale price, while the registration fee is charged at 2%. For a plot of 1,000 sq.ft at the current guideline value, the total cost would be Rs 3,96,000.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles registrations for properties in the area.

What is the significance of the guideline value?

The guideline value is important as it determines the stamp duty and registration fees for property transactions. It ensures that property transactions are conducted fairly and transparently, reflecting the current market conditions.