Guideline Value

Corporate

Guideline Value for VGP Selva Nagar

₹4400/sq.ft.

The guideline value for Vgp Selva Nagar in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. 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 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2725 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹368 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹321 /sq.ft.
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

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VGP Selva Nagar guideline value

The current guideline value of VGP Selva Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Velachery village under the Velacheri SRO, and it is classified as Residential Class II Type - II.

How the guideline value of VGP Selva Nagar has changed

The guideline value for VGP Selva Nagar has undergone several revisions over the years. Starting from Rs 321 per sq.ft in 2002, it increased to Rs 368 per sq.ft in 2003, marking a rise of 15%. The value then saw a significant jump to Rs 2,725 per sq.ft in 2007, which represents a 640% increase. In 2012, the value remained at Rs 4,000 per sq.ft, showing no change from the previous revision. The next revision in 2023 also kept the value at Rs 4,000 per sq.ft.

The most recent revision in 2024 raised the guideline value to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1271%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with 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 the same as the current value for VGP Selva Nagar.

Stamp duty and registration fee for property in VGP Selva Nagar

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. It is important to 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 information.

Which Sub Registrar Office covers VGP Selva Nagar?

The Sub Registrar Office that covers VGP Selva Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during 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 government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid legal complications during registration.

Frequently asked questions

What is the current guideline value of VGP Selva Nagar?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 321 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting a significant rise over the years.

What is the land classification of VGP Selva Nagar?

VGP Selva Nagar is classified as Residential Class II Type - II, which indicates its use for residential purposes.

Where can I find the Sub Registrar Office for VGP Selva Nagar?

The Sub Registrar Office for VGP Selva Nagar 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 VGP Selva Nagar?

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 at 7% would be Rs 3,08,000.