Guideline Value for Veeralaxmi Nagar

Veeralaxmi Nagar guideline value

The current guideline value of Veeralaxmi Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Mannoor village, under the Sriperumpudur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Veeralaxmi Nagar has changed

Over the years, the guideline value for Veeralaxmi Nagar has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 167 per sq.ft, marking a decrease of 33%. However, the value increased by 50% in the 2023 revision, bringing it back to Rs 250 per sq.ft, which was consistent with the 2012 figure.

The latest revision in 2024 has maintained the guideline value at Rs 250 per sq.ft, showing no change from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Mannoor

Mannoor village has a total of 56 streets under the Sriperumpudur SRO, with the 2024 guideline values ranging from Rs 100 to Rs 1,500 per sq.ft. The median value is Rs 250 per sq.ft, which aligns with the guideline value of Veeralaxmi Nagar.

• Vetri Nagar: Rs 200 per sq.ft (2024)
• Vairavar Nagar: Rs 200 per sq.ft (2024)
• Vianayaga Nagar: Rs 300 per sq.ft (2024)
• Udhaya Dinesh Nagar: Rs 200 per sq.ft (2024)
• Vijayalaxmi Nagar: Rs 500 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Veeralaxmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty is charged at 7%, which would be Rs 17,500, and the registration fee at 2% amounts to Rs 5,000. Therefore, the total charges would be Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veeralaxmi Nagar?

The Sub Registrar Office that covers Veeralaxmi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Mannoor. It is used to determine the stamp duty and registration fees that need to be paid during the registration of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements.

When purchasing or selling property, the guideline value is referenced to assess the value of the property for taxation purposes. This ensures that all transactions are conducted transparently and in accordance with government regulations.

Frequently asked questions

What is the current guideline value of Veeralaxmi Nagar?

The current guideline value of Veeralaxmi Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2012 to Rs 167 per sq.ft in 2017, then back to Rs 250 per sq.ft in 2023, and remains at Rs 250 per sq.ft in 2024.

What is the land classification of Veeralaxmi Nagar?

Veeralaxmi Nagar is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Veeralaxmi Nagar?

The Sub Registrar Office for Veeralaxmi Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Veeralaxmi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 17,500.