Guideline Value for VEERAPANDIYA NAGAR 2ND STREET

Veerapandiya Nagar 2nd Street guideline value

The current guideline value of Veerapandiya Nagar 2nd Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Veerapandiya Nagar 2nd Street has changed

The guideline value for Veerapandiya Nagar 2nd Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,200 per sq.ft. This increased significantly to Rs 4,600 per sq.ft in 2012, marking a rise of 283%. However, it then decreased to Rs 3,082 per sq.ft in 2017, a decline of 33%. The value saw a substantial increase to Rs 4,600 per sq.ft in 2023, followed by the current value of Rs 5,000 per sq.ft in 2024, reflecting a growth of 9% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 317%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. The guideline value of Veerapandiya Nagar 2nd Street is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total to Rs 4,50,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veerapandiya Nagar 2nd Street?

The Sub Registrar Office that covers Veerapandiya Nagar 2nd 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puliyur. It serves as the base value for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is registered, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all property transactions are documented accurately and fairly, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value for Veerapandiya Nagar 2nd Street?

The current guideline value for Veerapandiya Nagar 2nd Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2024, representing an overall increase of 317% over the years.

What is the land classification for Veerapandiya Nagar 2nd Street?

Veerapandiya Nagar 2nd Street is classified as Residential Class III Type - I.

Which Sub Registrar Office is responsible for this area?

The Kodambakkam Sub Registrar Office is responsible for the registration of properties in Veerapandiya Nagar 2nd Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Veerapandiya Nagar 2nd Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.