Guideline Value for VEERAPTHRA NAGAR (WARD-21)

Veerapthra Nagar (Ward-21) guideline value

The current guideline value of Veerapthra Nagar (Ward-21) is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Potheri village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Veerapthra Nagar (Ward-21) has changed

The guideline value for Veerapthra Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 700 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 469 per sq.ft. However, the value increased significantly in the 2023 revision to Rs 700 per sq.ft, followed by a further increase to Rs 770 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it rose by 49%. Overall, comparing the years 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median value among these streets is Rs 770 per sq.ft, which is equal to the current guideline value of Veerapthra Nagar.

• Velan Nagar (Ward -1): Rs 660 per sq.ft (2024)
• Vedhathiri Nagar (Val): Rs 880 per sq.ft (2024)
• Vembuliamman Koil Street (Ward -1): Rs 770 per sq.ft (2024)
• Varsha Avenue (Po): Rs 880 per sq.ft (2024)
• Varaavathi Street (Ward -1): Rs 770 per sq.ft (2024)
• Venkateswara Nagar (Val): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Veerapthra Nagar (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these charges to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Veerapthra Nagar (Ward-21)?

The Sub Registrar Office that covers Veerapthra Nagar (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Potheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives adequate revenue from stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value, as it affects the overall transaction costs. It is essential to ensure that the sale price meets or exceeds the guideline value to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Veerapthra Nagar (Ward-21)?

The current guideline value of Veerapthra Nagar (Ward-21) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then back to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification of Veerapthra Nagar?

Veerapthra Nagar is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Veerapthra Nagar?

The Sub Registrar Office for Veerapthra Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for property in Veerapthra Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900.