Guideline Value for VALMEEGI NAGAR 3RD SEA WARD

Valmeegi Nagar 3rd Sea Ward guideline value

The current guideline value of Valmeegi Nagar 3rd Sea Ward is Rs 12,650 per sq.ft, effective from 1 July 2024. This area is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Valmeegi Nagar 3rd Sea Ward has changed

In the 2012 revision, the guideline value was Rs 11,500 per sq.ft. This value decreased to Rs 7,705 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, reaching Rs 11,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 12,650 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets listed under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for this area is Rs 9,900 per sq.ft, and Valmeegi Nagar 3rd Sea Ward's 2024 figure is above this median.

• Valmeegi Nagar 2nd Sea Ward: Rs 12,650 per sq.ft (2024)
• Valmeegi Nagar 4th Sea Ward: Rs 12,650 per sq.ft (2024)
• Valmeegi Nagar 1st Sea Ward: Rs 12,650 per sq.ft (2024)
• Valmeegi Street: Rs 7,150 per sq.ft (2024)
• Valluvar Nagar: Rs 7,150 per sq.ft (2024)
• Vaigai Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Valmeegi Nagar 3rd Sea Ward

For a 1,000 sq.ft plot at the current guideline value of Rs 12,650 per sq.ft, the total guideline value amounts to Rs 1,26,50,000. The stamp duty at 7% would be Rs 8,85,500, and the registration fee at 2% would be Rs 2,53,000, making the total fees together Rs 11,38,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valmeegi Nagar 3rd Sea Ward?

The Sub Registrar Office that covers Valmeegi Nagar 3rd Sea Ward is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO here.

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

The guideline value is a crucial factor in property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, buyers and sellers must ensure that the sale price is either equal to or above the guideline value. This ensures compliance with local regulations and helps in the proper assessment of taxes associated with the property transaction.

Frequently asked questions

What is the current guideline value of Valmeegi Nagar 3rd Sea Ward?

The current guideline value of Valmeegi Nagar 3rd Sea Ward is Rs 12,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 11,500 per sq.ft in 2012 to Rs 7,705 per sq.ft in 2017, then increased to Rs 11,500 per sq.ft in 2023, and finally to Rs 12,650 per sq.ft in 2024.

What is the land classification for Valmeegi Nagar 3rd Sea Ward?

The land classification for Valmeegi Nagar 3rd Sea Ward is Residential Special Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,26,50,000, the stamp duty would be Rs 8,85,500, and the registration fee would be Rs 2,53,000, totaling Rs 11,38,500.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office for Valmeegi Nagar 3rd Sea Ward is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.