Guideline Value for VELMURUGAN NAGAR

Velmurugan Nagar guideline value

The current guideline value of Velmurugan Nagar is Rs 103 per sq.ft, effective from 1 July 2024. This area is located in Orakadamagadevimangalam village and falls under the Sunguvarchattram SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Velmurugan Nagar has changed

The guideline value register for Velmurugan Nagar shows no figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions indicate a guideline value of Rs 100 per sq.ft in 2023, which increased by 3% to Rs 103 per sq.ft in 2024.

This change from 2023 to 2024 reflects a minor increase in the guideline value. The current figure of Rs 103 per sq.ft is now equal to the median guideline value for the 12 streets in Orakadamagadevimangalam that are under the Sunguvarchattram SRO.

Guideline values in Orakadamagadevimangalam

In Orakadamagadevimangalam, the guideline values for the 12 streets under the Sunguvarchattram SRO range from Rs 101 to Rs 300 per sq.ft, with the median value being Rs 103 per sq.ft. Velmurugan Nagar's 2024 figure aligns with this median.

• V.G.R.Nagar: Rs 101 per sq.ft (2024)
• Sri Vaithamanidhi Nagar: Rs 103 per sq.ft (2024)
• Sri Sai Nagar: Rs 102 per sq.ft (2024)
• Srinivasa Avenue: Rs 103 per sq.ft (2024)
• Sri Krishna Nagar: Rs 103 per sq.ft (2024)
• Sathya Nagar: Rs 103 per sq.ft (2024)

Stamp duty and registration fee for property in Velmurugan Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 1,03,000. The stamp duty at 7% would be Rs 7,210, and the registration fee at 2% would be Rs 2,060, totaling Rs 9,270. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Velmurugan Nagar?

The Sub Registrar Office that covers Velmurugan Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Orakadamagadevimangalam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than individual sale prices.

When buying or selling property, it is essential to be aware of the guideline value, as it directly impacts the financial obligations associated with the transaction. Buyers should ensure that they understand how these values are determined and how they may affect their overall costs during the registration process.

Frequently asked questions

What is the current guideline value of Velmurugan Nagar?

The current guideline value of Velmurugan Nagar is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Velmurugan Nagar was Rs 100 per sq.ft in 2023 and increased to Rs 103 per sq.ft in 2024, reflecting a 3% rise. There are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Velmurugan Nagar?

Velmurugan Nagar is classified as Residential Class I Type - I. This classification indicates the type of development and usage permitted in the area.

Where can I find the registration office for Velmurugan Nagar?

The registration office for Velmurugan Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Velmurugan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 9,270.