Guideline Value for VEERAPANDIYA NAGAR 5TH STREET

Veerapandiya Nagar 5th Street guideline value

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

How the guideline value of Veerapandiya Nagar 5th Street has changed

The guideline value for Veerapandiya Nagar 5th Street has seen several revisions over the years. The earliest available figure is from 2007, where the guideline value was Rs 1,200 per sq.ft. This value 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 drop of 33%. The value further rose to Rs 4,600 per sq.ft in 2023, and finally reached Rs 5,000 per sq.ft in the 2024 revision, which is an increase of 9% from the previous year.

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

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO with 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 5th Street's value below this median.

• Veerapandiya Nagar 4th Street: Rs 5,000 per sq.ft (2024)
• Veerapandiya Nagar 3rd Street: Rs 5,000 per sq.ft (2024)
• Veerapandiya Nagar 3rd Cross Street (West): Rs 5,000 per sq.ft (2024)
• Veerapandiya Nagar 2nd 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 5th 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 cost for these fees 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 5th Street?

The Sub Registrar Office that covers Veerapandiya Nagar 5th 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 of property transactions in Puliyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the negotiated sale price.

When buying or selling property, it is essential to be aware of the guideline value, as it directly impacts the financial obligations during the registration process. Buyers should ensure they are informed about the current guideline value to avoid any surprises during the transaction.

Frequently asked questions

What is the current guideline value of Veerapandiya Nagar 5th Street?

The current guideline value of Veerapandiya Nagar 5th 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 significantly, from Rs 1,200 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2024, showing an overall increase of 317% over the years.

What are the stamp duty and registration fees for a 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 in fees.

Which office handles registrations for Veerapandiya Nagar 5th Street?

The Kodambakkam Sub Registrar Office handles registrations for Veerapandiya Nagar 5th Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the median guideline value for streets in Puliyur?

The median guideline value for streets in Puliyur is Rs 5,800 per sq.ft, which is higher than the current value of Veerapandiya Nagar 5th Street.