Guideline Value for VEL 'S DOCTRS METRO POLIS

Vel 's Doctrs Metro Polis guideline value

The current guideline value of Vel 's Doctrs Metro Polis is Rs 1,980 per sq.ft, effective from 1 July 2024. This property is located in Ninna Karai village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - II.

How the guideline value of Vel 's Doctrs Metro Polis has changed

Over the years, the guideline value of Vel 's Doctrs Metro Polis has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,800 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,980 per sq.ft. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, the value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. The value decreased by 33% from 2012 to 2017, and when comparing the overall figures from 2012 to 2024, there has been a 10% increase.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, placing Vel 's Doctrs Metro Polis above this median.

• Vellivithaiar Street (Ward -6): Rs 1,980 per sq.ft (2024)
• Veeran Alagumuthu Cone (Ward -8): Rs 1,760 per sq.ft (2024)
• Veeramamunivar Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Venkatesapuram Colony (Kr): Rs 660 per sq.ft (2024)
• Veerakavirayar Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Venkateswaran Nagar (Per): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Vel 's Doctrs Metro Polis

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty, charged at 7%, would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vel 's Doctrs Metro Polis?

The Sub Registrar Office that covers Vel 's Doctrs Metro Polis is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ninna Karai. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value at the time of the transaction.

Frequently asked questions

What is the current guideline value of Vel 's Doctrs Metro Polis?

The current guideline value of Vel 's Doctrs Metro Polis is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Vel 's Doctrs Metro Polis?

Vel 's Doctrs Metro Polis is classified as Residential Special Type - II.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.