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, located in Panangottur village, is Rs 1,980 per sq.ft, effective from 1 July 2024. This property falls 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

The guideline value for Vel 's Doctrs Metro Polis has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,800 per sq.ft. This figure then decreased to Rs 1,206 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value experienced a significant increase in the following revisions, rising to Rs 1,800 per sq.ft in 2023, and then reaching Rs 1,980 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur village, there are 419 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 value for these streets is Rs 990 per sq.ft, and the guideline value for Vel 's Doctrs Metro Polis is 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 1,320 per sq.ft (2024)
• Venkatesapuram Colony (Kr): Rs 660 per sq.ft (2024)
• Veerakavirayar Street (Ward -4): Rs 1,320 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 would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

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

The Chengleput Joint II Sub Registrar Office covers Vel 's Doctrs Metro Polis. The office is 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 Panangottur

The guideline value is a critical component in the registration process when buying or selling property in Panangottur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation set by the government.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions, as both buyers and sellers are aware of the official valuation that will influence their financial obligations.

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?

Over the years, the guideline value has seen various revisions. From 2012 to 2017, it decreased from Rs 1,800 to Rs 1,206 per sq.ft, but then it increased to Rs 1,800 in 2023 and further to Rs 1,980 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 under the Chengleput Joint II SRO.

How is stamp duty calculated for properties in Vel 's Doctrs Metro Polis?

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 19,80,000, the stamp duty would be Rs 1,38,600.

Where can I find the Sub Registrar Office for Vel 's Doctrs Metro Polis?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information online.