Guideline Value for Veerapathiran street(Bhavani nagar)

Veerapathiran street(Bhavani nagar) guideline value

The current guideline value of Veerapathiran street(Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village, under the Ambattur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Veerapathiran street(Bhavani nagar) has changed

The guideline value for Veerapathiran street(Bhavani nagar) has undergone several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, reflecting a remarkable growth of 650%. However, the value dropped to Rs 1,005 per sq.ft in 2017, marking a decrease of 33%. The subsequent revision in 2023 set the value at Rs 1,500 per sq.ft, and the latest revision in 2024 has raised it to Rs 1,600 per sq.ft, showing an increase of 7% from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. The overall change from 2007 to 2024 shows an increase of 700%, highlighting the significant fluctuations in the guideline value over the years.

Guideline values in Ayappakkam

Ayappakkam village features 221 streets under the Ambattur SRO, with guideline values ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, positioning Veerapathiran street(Bhavani nagar) above this median at Rs 1,600 per sq.ft.

• Vengan Choudry Main Road (Rajammal nagar): Rs 1,300 per sq.ft (2024)
• Venkataswara Nagar: Rs 880 per sq.ft (2024)
• VGN Serenity Grove: Rs 2,200 per sq.ft (2024)
• VGN Serenity Grove Phase - II: Rs 3,300 per sq.ft (2024)
• Vijayalakshmi street(Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Tonakilla Camp Road: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Veerapathiran street(Bhavani nagar)

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veerapathiran street(Bhavani nagar)?

The Sub Registrar Office that covers Veerapathiran street(Bhavani nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Ayappakkam. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the transaction is documented accurately.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the sale and that the property is valued fairly according to the established guidelines.

Frequently asked questions

What is the current guideline value of Veerapathiran street(Bhavani nagar)?

The current guideline value of Veerapathiran street(Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, showing an overall increase of 700% over the years.

What are the other streets in Ayappakkam and their guideline values?

Other streets in Ayappakkam include Vengan Choudry Main Road at Rs 1,300 per sq.ft, Venkataswara Nagar at Rs 880 per sq.ft, and VGN Serenity Grove at Rs 2,200 per sq.ft, among others.

What is the stamp duty for property in Veerapathiran street(Bhavani nagar)?

The stamp duty for property in Veerapathiran street(Bhavani nagar) is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Veerapathiran street(Bhavani nagar)?

The Sub Registrar Office for Veerapathiran street(Bhavani nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.