Guideline Value for VEERASAMY NAGAR

Veerasamy Nagar guideline value

The current guideline value of Veerasamy Nagar, located in Pallikaranai village under the Chennai South Joint I SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Veerasamy Nagar has changed

The guideline value of Veerasamy Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 90 per sq.ft, which increased to Rs 106 per sq.ft in 2003, marking an 18% rise. The value continued to climb significantly to Rs 400 per sq.ft in 2007, reflecting a 277% increase. By 2012, the value remained at Rs 1,500 per sq.ft, and this figure was unchanged until the 2023 revision.

In 2023, the guideline value was revised to Rs 1,500 per sq.ft, and in 2024, it increased to Rs 1,650 per sq.ft, representing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1,733%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with a 2024 guideline value range from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is the same as the current value for Veerasamy Nagar.

• Veerasamy Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Veerasamy Nagar 4th Street: Rs 1,650 per sq.ft (2024)
• Veerasamy Nagar Extn.: Rs 1,650 per sq.ft (2024)
• Veerasamy Nagar Layout: Rs 1,650 per sq.ft (2024)
• Veerasamy Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Veerathamman 2nd Cross Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Veerasamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Veerasamy Nagar?

Veerasamy Nagar is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Pallikaranai. It is used to determine the stamp duty and registration fees that must be paid during the registration of a property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is referenced to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. Understanding the guideline value is essential for anyone involved in real estate transactions in Pallikaranai.

Frequently asked questions

What is the current guideline value of Veerasamy Nagar?

The current guideline value of Veerasamy Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 90 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, representing an overall increase of 1,733% over this period.

What are the other streets in Pallikaranai with the same guideline value?

Other streets in Pallikaranai with the same 2024 guideline value of Rs 1,650 per sq.ft include Veerasamy Nagar 1st Street, Veerasamy Nagar 4th Street, Veerasamy Nagar Extn., Veerasamy Nagar Layout, and Veerasamy Nagar 3rd Street.

What is the stamp duty rate for properties in Veerasamy Nagar?

The stamp duty rate for properties in Veerasamy Nagar is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Veerasamy Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.