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 Sattamangalam 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

The guideline value for Vel 's Doctrs Metro Polis has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was a decrease of 33% from the previous figure of Rs 1,206 per sq.ft in the 2017 revision. The value remained unchanged in the 2012 revision. Following this, the 2017 revision saw a significant increase to Rs 1,800 per sq.ft, and then the 2023 revision raised it further to Rs 1,800 per sq.ft. The latest 2024 revision has increased the guideline value to Rs 1,980 per sq.ft, marking a 10% increase from the previous year.

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

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area 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 1,320 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 to Rs 1,78,200. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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, 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 Sattamangalam

The guideline value plays a crucial role in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the minimum price at which property transactions can be registered. This ensures that the government receives the appropriate stamp duty and registration fees based on the guideline value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the sale price. This means that if the sale price is lower than the guideline value, the buyer will still be required to pay fees based on the guideline value.

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 1,800 per sq.ft in 2017, and then to Rs 1,800 per sq.ft in 2023, before rising 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 Sub Registrar Office?

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

How is the 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 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,38,600.