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 Vallancheri 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 2012, the value was set at Rs 700 per sq.ft, which was then reduced to Rs 469 per sq.ft in 2017. Following this, the value increased significantly to Rs 700 per sq.ft in 2023, and then further rose to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, there was a substantial increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 825 per sq.ft, placing Veerapthra Nagar's 2024 figure below this median.

• 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 fees 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 the stamp duty and registration fee calculator for more details.

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

Veerapthra Nagar (Ward-21) is covered by 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 Vallancheri

The guideline value is a critical factor when buying or selling property in Vallancheri, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are mandatory during the transaction process.

When a buyer agrees on a sale price, the stamp duty will be calculated based on the higher of the sale price or the guideline value. This ensures that the government receives the appropriate revenue from property transactions.

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 seen several revisions, with the most recent being an increase from Rs 700 per sq.ft in 2023 to Rs 770 per sq.ft in 2024. The value was Rs 469 per sq.ft in 2017 and Rs 700 per sq.ft in 2012.

What is the land classification for Veerapthra Nagar?

Veerapthra Nagar is classified as Residential Class I Type - III, which indicates its primary use for residential purposes.

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

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

How is the stamp duty calculated for property transactions?

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