Guideline Value for VEERASAMY GARDEN

Veerasamy Garden guideline value

The current guideline value of Veerasamy Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Uthandi village under the Neelankarai SRO and is classified as Residential Class III Type - I.

How the guideline value of Veerasamy Garden has changed

The guideline value of Veerasamy Garden has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the latest 2024 revision has raised it further to Rs 1,100 per sq.ft. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2017 revision to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 10% rise. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Veerasamy Garden's 2024 figure below this median.

• Veerapathran Street: Rs 2,200 per sq.ft (2024)
• Veerapathran Gopal Street: Rs 2,200 per sq.ft (2024)
• Velallar Salai: Rs 3,300 per sq.ft (2024)
• Vellalar Street: Rs 3,300 per sq.ft (2024)
• Velu Garden (Thottam): Rs 1,100 per sq.ft (2024)
• Velu Thottam/Jagatheesan Thottam: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Veerasamy Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 Veerasamy Garden?

The Sub Registrar Office that covers Veerasamy Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Uthandi. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. This value is updated periodically, reflecting changes in the real estate market.

Frequently asked questions

What is the current guideline value of Veerasamy Garden?

The current guideline value of Veerasamy Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Veerasamy Garden?

Veerasamy Garden is classified as Residential Class III Type - I, which indicates its designation for residential use.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Veerasamy Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 11,00,000, leading to a stamp duty of Rs 77,000 at 7%.