Guideline Value for Veerabagu Nagar

Veerabagu Nagar guideline value

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

How the guideline value of Veerabagu Nagar has changed

The guideline value for Veerabagu Nagar has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 121 per sq.ft. This increased significantly to Rs 328 per sq.ft in 2007, marking a 171% rise. In 2012, the value was Rs 2,000 per sq.ft, reflecting a substantial increase of 510%. However, by 2017, the value decreased to Rs 1,340 per sq.ft, showing a decline of 33%. From 2017 to 2023, the guideline value remained at Rs 2,000 per sq.ft, representing a 49% increase from the 2017 revision. The current value is also Rs 2,000 per sq.ft as of the 2024 revision, indicating no change from the previous year.

It is important to note that there is no recorded figure for Veerabagu Nagar in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 1,553%.

Guideline values in Nandhivaram

Nandhivaram village has 169 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, placing Veerabagu Nagar's 2024 figure above this median.

• Veerabagu Nagar Extn: 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

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, charged at 7%, would be Rs 1,40,000, while the registration fee at 2% would be Rs 40,000. Therefore, the total cost for stamp duty and registration fee would be Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veerabagu Nagar?

The Sub Registrar Office that covers Veerabagu Nagar 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Nandhivaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential for buyers to be aware of the guideline value to ensure they are not overpaying for a property, while sellers should be informed to price their properties competitively.

Frequently asked questions

What is the current guideline value of Veerabagu Nagar?

The current guideline value of Veerabagu Nagar 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 seen several revisions, with the most significant increase occurring from Rs 121 per sq.ft in 2002 to Rs 2,000 per sq.ft in 2012, and an overall increase of 1,553% from 2002 to 2024.

What is the classification of land in Veerabagu Nagar?

Veerabagu Nagar is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

Where can I find the registration office for Veerabagu Nagar?

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

How is stamp duty calculated in Veerabagu Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,000 per sq.ft has a guideline value of Rs 20,00,000, leading to a stamp duty of Rs 1,40,000.