Guideline Value for BG nagar Veerevu

BG nagar Veerevu guideline value

The current guideline value of BG nagar Veerevu is Rs 2,200 per sq.ft, effective from 1 July 2024. This locality is situated in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of BG nagar Veerevu has changed

Over the years, the guideline value for BG nagar Veerevu has seen significant changes. In the 2007 revision, the value was Rs 300 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012, marking a rise of 567%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a reduction of 33%. The value saw a substantial increase again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 633%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of BG nagar Veerevu.

• Bhagwan nagar: Rs 2,200 per sq.ft (2024)
• Bhajanai koil street: Rs 2,200 per sq.ft (2024)
• Bazaar street: Rs 3,250 per sq.ft (2024)
• Balaraman Nagar Annex: Rs 1,980 per sq.ft (2024)
• Balaraman Nagar: Rs 2,200 per sq.ft (2024)
• Bradees street: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in BG nagar Veerevu

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers BG nagar Veerevu?

The Sub Registrar Office that covers BG nagar Veerevu is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Poonthamallee. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring transparency in property dealings.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. This ensures that both parties are aware of their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of BG nagar Veerevu?

The current guideline value of BG nagar Veerevu is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 633% over the years.

What is the range of guideline values in Poonthamallee?

The guideline values in Poonthamallee range from Rs 1,980 to Rs 4,950 per sq.ft, with a median value of Rs 2,200 per sq.ft.

How is stamp duty calculated for properties in BG nagar Veerevu?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,200 per sq.ft would incur a stamp duty of Rs 1,54,000.

Where can I find the Sub Registrar Office for BG nagar Veerevu?

The Sub Registrar Office for BG nagar Veerevu is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.