Guideline Value for Veerabathira Nagar

Veerabathira Nagar guideline value

The current guideline value of Veerabathira Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Orathur village under the Gooduvancheri SRO and is classified as Residential Special Type - II.

How the guideline value of Veerabathira Nagar has changed

The guideline value of Veerabathira Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 175 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision. However, there was a decrease to Rs 335 per sq.ft in the 2017 revision. The 2023 revision maintained this value at Rs 500 per sq.ft, and the current 2024 revision also remains at Rs 500 per sq.ft, indicating no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 186%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 335 to Rs 1,700 per sq.ft, with the median value being Rs 500 per sq.ft. Veerabathira Nagar's 2024 guideline value aligns with this median.

• Veeravanchi Nagar: Rs 505 per sq.ft (2024)
• Vignesh Garden: Rs 402 per sq.ft (2024)
• Vignesh Garden Extension: Rs 700 per sq.ft (2024)
• Vignesh Garden Extension-I: Rs 700 per sq.ft (2024)
• Vijaya Nagar: Rs 505 per sq.ft (2024)
• Vinayaga Nagar: Rs 505 per sq.ft (2024)

Stamp duty and registration fee for property in Veerabathira Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Veerabathira Nagar?

The Sub Registrar Office that covers Veerabathira Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, 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 Orathur

The guideline value is a crucial factor in property transactions in Orathur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will base stamp duty and registration fees on the guideline value or the sale price, whichever is higher.

When purchasing property, it is essential to ensure that the sale price aligns with the guideline value to avoid any discrepancies during registration. The guideline value helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Veerabathira Nagar?

The current guideline value of Veerabathira Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 175 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreasing to Rs 335 per sq.ft in 2017. It has remained at Rs 500 per sq.ft in both the 2023 and 2024 revisions.

What is the land classification of Veerabathira Nagar?

Veerabathira Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Veerabathira Nagar?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 5,00,000, the total fees would be Rs 45,000.

Where is the Sub Registrar Office for Veerabathira Nagar located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.