Guideline Value for VEERAPANDIYA NAGAR 3RD CROSS STREET (WEST)

Veerapandiya Nagar 3rd Cross Street (West) guideline value

The current guideline value of Veerapandiya Nagar 3rd Cross Street (West) 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 3rd Cross Street (West) has changed

The guideline value for Veerapandiya Nagar 3rd Cross Street (West) has seen several revisions over the years. The oldest available figure is from the 2012 revision, which was Rs 4,600 per sq.ft. This value decreased to Rs 3,082 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rose significantly to Rs 4,600 per sq.ft in the 2023 revision, and further increased to the current rate of Rs 5,000 per sq.ft in the 2024 revision, representing a 9% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision is an increase of 9%.

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 for Veerapandiya Nagar 3rd Cross Street (West) is below this median.

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

Stamp duty and registration fee for property in Veerapandiya Nagar 3rd Cross Street (West)

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 fees to Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Veerapandiya Nagar 3rd Cross Street (West)?

The Sub Registrar Office that covers Veerapandiya Nagar 3rd Cross Street (West) is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process for property transactions in Puliyur. It determines the minimum value at which a property must 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 serves as a benchmark for both parties. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Veerapandiya Nagar 3rd Cross Street (West)?

The current guideline value of Veerapandiya Nagar 3rd Cross Street (West) is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 4,600 per sq.ft in 2012 to Rs 3,082 per sq.ft in 2017, then increased to Rs 4,600 per sq.ft in 2023, and finally to Rs 5,000 per sq.ft in 2024.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Which Sub Registrar Office covers this street?

The Kodambakkam Sub Registrar Office covers Veerapandiya Nagar 3rd Cross Street (West), located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification for Veerapandiya Nagar 3rd Cross Street (West)?

The land classification for Veerapandiya Nagar 3rd Cross Street (West) is Residential Class III Type - I.