Guideline Value for VEERA DHARANI NAGAR

Veera Dharani Nagar guideline value

The current guideline value of Veera Dharani Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This locality is situated in Karunilam village and falls under the Chengleput Joint II SRO, classified as Residential Special Type - I.

How the guideline value of Veera Dharani Nagar has changed

In the 2012 revision, the guideline value was set at Rs 700 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 469 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 700 per sq.ft. The 2024 revision has maintained this value at Rs 700 per sq.ft, indicating no change 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, the guideline value from 2012 to 2024 has shown no change.

Guideline values in Karunilam

In Karunilam, there are 35 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 400 to Rs 1,200 per sq.ft. The median value across these streets is Rs 501 per sq.ft, placing Veera Dharani Nagar's 2024 figure above this median.

• Value Nagar: Rs 400 per sq.ft (2024)
• Vip Nagar: Rs 700 per sq.ft (2024)
• Sri Sathiya Sai Nagar Phase- 4: Rs 600 per sq.ft (2024)
• Sri Ram Nagar Extn -II: Rs 500 per sq.ft (2024)
• Sri Ram Nagar Extn -I: Rs 500 per sq.ft (2024)
• Sri Ram Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Veera Dharani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. 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 more detailed calculations.

Which Sub Registrar Office covers Veera Dharani Nagar?

Veera Dharani Nagar is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process of property transactions in Karunilam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Veera Dharani Nagar?

The current guideline value of Veera Dharani Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft since 2012, except for a drop to Rs 469 per sq.ft in 2017. It then increased back to Rs 700 per sq.ft in 2023 and has stayed the same for 2024.

What is the land classification of Veera Dharani Nagar?

Veera Dharani Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Veera Dharani Nagar?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 7,00,000, the total fees would amount to Rs 63,000.

Which office handles property registration in Veera Dharani Nagar?

The Chengleput Joint II Sub Registrar Office handles property registration for Veera Dharani Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.