Guideline Value for VEERAPANDIA KOTTAPOMMAN STREET

Veerapandia Kottapomman Street guideline value

The current guideline value of Veerapandia Kottapomman Street is Rs 1,950 per sq.ft, effective from 1 July 2024. This street is located in Ottiyampakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Veerapandia Kottapomman Street has changed

The guideline value for Veerapandia Kottapomman Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was followed by a decrease to Rs 1,206 per sq.ft in the 2017 revision, reflecting a drop of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, marking a rise of 49%. The latest revision in 2024 has further increased the value to Rs 1,950 per sq.ft, representing an 8% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 1,300 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,950 per sq.ft, which is equal to the current value of Veerapandia Kottapomman Street.

• Vinveli Nagar: Rs 1,600 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,950 per sq.ft (2024)
• Zed Ria Phase-I: Rs 2,200 per sq.ft (2024)
• Thangarajapuram: Rs 1,950 per sq.ft (2024)
• Tellus Avenue Phase-II: Rs 3,200 per sq.ft (2024)
• Tellus Avenue: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Veerapandia Kottapomman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value would be Rs 19,50,000. The stamp duty at 7% would amount to Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total cost for these fees to Rs 1,75,500. It is important to note that the 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 Veerapandia Kottapomman Street?

The Sub Registrar Office that covers Veerapandia Kottapomman Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Ottiyampakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Veerapandia Kottapomman Street?

The current guideline value of Veerapandia Kottapomman Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,950 per sq.ft in 2024.

What is the land classification for Veerapandia Kottapomman Street?

Veerapandia Kottapomman Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for this street?

For a 1,000 sq.ft plot, the total guideline value is Rs 19,50,000, with a stamp duty of Rs 1,36,500 and a registration fee of Rs 39,000, totaling Rs 1,75,500.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.