Guideline Value for Veena Garden

Veena Garden guideline value

The current guideline value of Veena Garden, located in Koyakbedu village under the AnnaNagar SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - III land classification.

How the guideline value of Veena Garden has changed

The guideline value for Veena Garden has seen several revisions over the years. Starting from Rs 1,300 per sq.ft in 2007, it increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 131%. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value then surged to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase, and finally reached the current guideline value of Rs 3,300 per sq.ft in 2024, which is a 10% increase.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 154%.

Guideline values in Koyakbedu

In Koyakbedu, there are 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, making the guideline value of Veena Garden below that median.

• Vedha Nagar: Rs 4,400 per sq.ft (2024)
• Veda Nagar Ist Street: Rs 4,400 per sq.ft (2024)
• Veda Nagar IInd Street: Rs 4,400 per sq.ft (2024)
• Vasantha Sampath Garden: Rs 3,300 per sq.ft (2024)
• Velan Nagar: Rs 4,400 per sq.ft (2024)
• Velan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Veena Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veena Garden?

The Sub Registrar Office that covers Veena Garden is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Koyakbedu. It determines the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded at a fair price as per government regulations.

When you buy or sell a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the official value assigned to the property, which is essential for legal documentation and taxation purposes.

Frequently asked questions

What is the current guideline value of Veena Garden?

The current guideline value of Veena Garden is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 154% over the years.

What are the stamp duty and registration fees for property in Veena Garden?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Veena Garden?

The AnnaNagar Sub Registrar Office covers Veena Garden, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Veena Garden?

Veena Garden falls under the Residential Class I Type - III land classification.