Guideline Value for VEERAPANDIYA NAGAR 1ST STREET

Veerapandiya Nagar 1st Street guideline value

The current guideline value of Veerapandiya Nagar 1st Street is Rs 5,300 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Veerapandiya Nagar 1st Street has changed

The guideline value for Veerapandiya Nagar 1st Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,200 per sq.ft, which saw a significant increase to Rs 4,900 per sq.ft in both the 2012 and 2023 revisions. The latest revision in 2024 has raised the value to Rs 5,300 per sq.ft, reflecting an increase of 8% from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2017. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 342%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, placing the 2024 figure for Veerapandiya Nagar 1st Street below this median.

• Veerapandiya Nagar 1st Cross Street: Rs 5,300 per sq.ft (2024)
• Veerapandiya Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Veerapandiya Nagar 2nd Street: Rs 5,000 per sq.ft (2024)
• Veerapandiya Nagar 3rd Cross Street (West): Rs 5,000 per sq.ft (2024)
• Veerapandiya Nagar 3rd Street: Rs 5,000 per sq.ft (2024)
• Veerapandiya Nagar 4th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Veerapandiya Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,300 per sq.ft, the total guideline value amounts to Rs 53,00,000. The stamp duty at 7% would be Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, bringing the total to Rs 4,77,000. 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 information.

Which Sub Registrar Office covers Veerapandiya Nagar 1st Street?

The Sub Registrar Office that covers Veerapandiya Nagar 1st Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property, which is essential for both buyers and sellers during negotiations. It is important to be aware of the current guideline value to make informed decisions in property transactions.

Frequently asked questions

What is the current guideline value of Veerapandiya Nagar 1st Street?

The current guideline value of Veerapandiya Nagar 1st Street is Rs 5,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,200 per sq.ft in 2007 to Rs 5,300 per sq.ft in 2024, marking an overall increase of 342%.

What is the stamp duty for a property in Veerapandiya Nagar 1st Street?

The stamp duty for a property in Veerapandiya Nagar 1st Street is 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office should I visit for property registration?

The Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, covers Veerapandiya Nagar 1st Street.

What are the other streets with guideline values in Puliyur?

Other streets in Puliyur include Veerapandiya Nagar 1st Cross Street, Veerapandiya Nagar 2nd Cross Street, and Veerapandiya Nagar 2nd Street, among others, each with their respective guideline values for 2024.