Guideline Value for Veeraghava Reddy Colony Block 86

Veeraghava Reddy Colony Block 86 guideline value

The current guideline value for Veeraghava Reddy Colony Block 86 is Rs 4,100 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification is Residential Class IV Type - I.

How the guideline value of Veeraghava Reddy Colony Block 86 has changed

Over the years, the guideline value for Veeraghava Reddy Colony Block 86 has seen significant changes. In 2007, the guideline value was Rs 800 per sq.ft, which increased dramatically to Rs 3,750 per sq.ft in both 2012 and 2023. The most recent revision in 2024 raised the value to Rs 4,100 per sq.ft, marking a 9% increase from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2017 for this street. The overall increase from 2007 to 2024 is 413%, highlighting the substantial rise in property values in this locality.

Guideline values in Kodambakkam

Kodambakkam has a range of guideline values, with 1,031 streets under the Ashok Nagar SRO carrying a 2024 figure between Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing the guideline value of Veeraghava Reddy Colony Block 86 below this median.

• Veedhimari Amman Koil Street(Bharathi Block): Rs 4,100 per sq.ft (2024)
• Vedanayagam Street: Rs 2,200 per sq.ft (2024)
• Vedachalam Street: Rs 4,900 per sq.ft (2024)
• Vedachalam Nagar 5th Street: Rs 4,900 per sq.ft (2024)
• Vedachalam Nagar 4th Street: Rs 4,900 per sq.ft (2024)
• Vedachalam Nagar 3rd Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Veeraghava Reddy Colony Block 86

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veeraghava Reddy Colony Block 86?

The Ashok Nagar Sub Registrar Office covers Veeraghava Reddy Colony Block 86, 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 Kodambakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value of Veeraghava Reddy Colony Block 86?

The current guideline value of Veeraghava Reddy Colony Block 86 is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking an overall increase of 413% over the years.

What are the other guideline values in Kodambakkam?

In Kodambakkam, the guideline values range from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. Veeraghava Reddy Colony Block 86's value is below this median.

What fees are associated with buying property in Veeraghava Reddy Colony Block 86?

When buying property, buyers need to pay stamp duty at 7% and a registration fee at 2% based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Veeraghava Reddy Colony Block 86?

The Sub Registrar Office for Veeraghava Reddy Colony Block 86 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.