Guideline Value for Veerabagu Nagar Extn

Veerabagu Nagar Extn guideline value

The current guideline value of Veerabagu Nagar Extn is Rs 2,000 per sq.ft, effective from 1 July 2024. This area is located in Nandhivaram village under the Gooduvancheri SRO, classified as Residential Special Type - II.

How the guideline value of Veerabagu Nagar Extn has changed

Over the years, the guideline value of Veerabagu Nagar Extn has seen several revisions. In 2007, the guideline value was Rs 328 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, in 2017, it decreased to Rs 1,340 per sq.ft before rising again to Rs 2,000 per sq.ft in both 2023 and 2024. The register has no figure for the years 2002 and 2003.

From 2012 to 2017, the value dropped by 33%, while from 2017 to 2023, it increased by 49%. The guideline value remained unchanged from 2023 to 2024, maintaining the rate of Rs 2,000 per sq.ft. Overall, from 2007 to 2024, there has been a significant increase of 510% in the guideline value.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,500 per sq.ft, positioning Veerabagu Nagar Extn above this median.

• Veerabagu Nagar: Rs 2,000 per sq.ft (2024)
• Vedagiri Nagar: Rs 1,200 per sq.ft (2024)
• Vasantham Nagar: Rs 1,500 per sq.ft (2024)
• Valluvar Nagar: Rs 1,200 per sq.ft (2024)
• Valluvar Colony: Rs 1,200 per sq.ft (2024)
• Venkateswara Nagar Part-I: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Veerabagu Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total fees to Rs 1,80,000. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Veerabagu Nagar Extn?

The Sub Registrar Office that covers Veerabagu Nagar Extn is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is crucial when buying or selling property in Nandhivaram, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Veerabagu Nagar Extn?

The current guideline value of Veerabagu Nagar Extn is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 maintaining the value at Rs 2,000 per sq.ft, while it was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012.

What is the classification of land in Veerabagu Nagar Extn?

Veerabagu Nagar Extn is classified as Residential Special Type - II, which affects its guideline value and usage.

What are the stamp duty rates applicable in Nandhivaram?

The stamp duty rate in Nandhivaram is 7%, which is applied to the guideline value or the sale price, whichever is higher, during property registration.

Where can I find the Sub Registrar Office for Veerabagu Nagar Extn?

The Gooduvancheri Sub Registrar Office covers Veerabagu Nagar Extn, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.