Guideline Value for Veerapathirar Nagar

Veerapathirar Nagar guideline value

The current guideline value of Veerapathirar Nagar is Rs 1,000 per sq.ft, as per the 2023 revision. This area falls under Ponmar village and is governed by the Gooduvancheri SRO. The land classification for this locality is Residential Special Type - II.

How the guideline value of Veerapathirar Nagar has changed

The guideline value for Veerapathirar Nagar has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 140 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking a substantial rise of 614%. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, a drop of 33%. As of the 2023 revision, the guideline value stands at Rs 1,000 per sq.ft, reflecting an increase of 49% from the previous revision.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 614%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Ponmar

Veerapathirar Nagar is part of Ponmar, which is under the jurisdiction of the Gooduvancheri SRO. Currently, there are no other streets in Ponmar listed with guideline values.

Stamp duty and registration fee for property in Veerapathirar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total cost for these fees to Rs 90,000. It is important to note that 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 Veerapathirar Nagar?

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

To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor during the registration process when buying or selling property in Ponmar. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is sold, the guideline value helps determine the legal and financial obligations of both the buyer and the seller. It is essential for all parties involved to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Veerapathirar Nagar?

The current guideline value of Veerapathirar Nagar is Rs 1,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 140 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and is currently Rs 1,000 per sq.ft in 2023.

What is the land classification for Veerapathirar Nagar?

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

Where is the Gooduvancheri Sub Registrar Office located?

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

How are stamp duty and registration fees calculated in Veerapathirar Nagar?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 90,000 for both stamp duty and registration.