Guideline Value for SRI VELMURUGAN NAGAR

Sri Velmurugan Nagar guideline value

The current guideline value of Sri Velmurugan Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Thachoor_2 village under the Ponneri Sub Registrar Office, classified as Residential Class II Type - I.

How the guideline value of Sri Velmurugan Nagar has changed

The guideline value for Sri Velmurugan Nagar has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 300 per sq.ft, and it increased by 33% to Rs 400 per sq.ft in the 2024 revision.

This increase reflects the changes made in the latest revision, which took effect on 1 July 2024. The current value of Rs 400 per sq.ft is the most recent figure available, showing a significant change from the previous year's rate.

Guideline values in Thachoor_2

In Thachoor_2, there are 40 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 202 to Rs 1,800 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value of Sri Velmurugan Nagar is below this median.

• Srivaru Nagar: Rs 600 per sq.ft (2024)
• Sri Vignesh Nagar: Rs 400 per sq.ft (2024)
• Sri Sai Nagar: Rs 400 per sq.ft (2024)
• Sri Durgai Amman Nagar: Rs 400 per sq.ft (2024)
• Thaalur Avenue: Rs 650 per sq.ft (2024)
• Sri Devi Gayathri Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Velmurugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total charges to Rs 36,000. 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 precise calculations.

Which Sub Registrar Office covers Sri Velmurugan Nagar?

Sri Velmurugan Nagar falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thachoor_2

The guideline value is an essential factor in the registration process for property transactions in Thachoor_2. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these charges are based on the official valuation of the property.

When buying or selling property, the guideline value helps in determining the legal and financial obligations involved in the transaction. It is crucial for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Velmurugan Nagar?

The current guideline value of Sri Velmurugan Nagar is Rs 400 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 2023 to Rs 400 per sq.ft in 2024, representing a 33% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the classification of land in Sri Velmurugan Nagar?

Sri Velmurugan Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Sri Velmurugan Nagar?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total charges would be Rs 36,000.

Where can I find the Sub Registrar Office for Sri Velmurugan Nagar?

The Ponneri Sub Registrar Office covers Sri Velmurugan Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.