Guideline Value for VEERAPANDIYA NAGAR 3RD STREET

Veerapandiya Nagar 3rd Street guideline value

The current guideline value of Veerapandiya Nagar 3rd Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Veerapandiya Nagar 3rd Street has changed

Over the years, the guideline value for Veerapandiya Nagar 3rd Street has seen significant changes. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased to Rs 4,600 per sq.ft in the 2012 revision. However, this figure dropped to Rs 3,082 per sq.ft in 2017. The 2023 revision raised it to Rs 4,600 per sq.ft, and the latest revision in 2024 has set it at Rs 5,000 per sq.ft. Notably, the register has no figure for this street in 2002 and 2003.

From the 2017 revision to 2023, there was an increase of 49%. The jump from 2023 to 2024 reflects a rise of 9%. The 2012 to 2017 period saw a decrease of 33%, while the increase from 2007 to 2012 was a substantial 283%. 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. The median guideline value for these streets is Rs 5,800 per sq.ft, placing Veerapandiya Nagar 3rd Street's 2024 figure below that median.

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

Stamp duty and registration fee for property in Veerapandiya Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to 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 higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veerapandiya Nagar 3rd Street?

The Sub Registrar Office that covers Veerapandiya Nagar 3rd 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 property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration regulations.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Veerapandiya Nagar 3rd Street?

The current guideline value of Veerapandiya Nagar 3rd 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, marking an overall increase of 317% over the years.

What is the registration office for Veerapandiya Nagar 3rd Street?

The registration office for Veerapandiya Nagar 3rd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 50,00,000 would incur a stamp duty of Rs 3,50,000.

What are the guideline values of other streets in Puliyur?

Other streets in Puliyur have varying guideline values, with rates ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft.