Guideline Value for Veerappa Nagar Main Road

Veerappa Nagar Main Road guideline value

The current guideline value of Veerappa Nagar Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024. This road is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Veerappa Nagar Main Road has changed

Since the 2002 revision, the guideline value for Veerappa Nagar Main Road has seen significant changes. The value started at Rs 470 per sq.ft in 2002 and increased to Rs 511 per sq.ft in 2003, marking a 9% increase. The value then rose to Rs 1,100 per sq.ft in 2007, reflecting a substantial 115% increase. Following this, the value surged to Rs 4,500 per sq.ft in 2012, representing a remarkable 309% increase. However, the value decreased to Rs 3,015 per sq.ft in 2017, a decline of 33%. The guideline value then climbed to Rs 4,500 per sq.ft in 2023, showing a 49% increase, and finally reached Rs 4,950 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the years not mentioned in the register for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, and the guideline value for Veerappa Nagar Main Road is above this median.

• Veerappa Nagar Anex2: Rs 4,950 per sq.ft (2024)
• Veerappa Nagar 4th Street: Rs 4,950 per sq.ft (2024)
• Veerappa Nagar 3rd Street: Rs 4,950 per sq.ft (2024)
• Veerappa Nagar 2nd Street: Rs 4,950 per sq.ft (2024)
• Veerappa Nagar 1st Street: Rs 4,950 per sq.ft (2024)
• Veerappa Nagar 1st Cross Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Veerappa Nagar Main Road

For a 1,000 sq.ft plot at the current rate of Rs 4,950 per sq.ft, the guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, totaling Rs 4,45,500. 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 information.

Which Sub Registrar Office covers Veerappa Nagar Main Road?

The Sub Registrar Office that covers Veerappa Nagar Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Valasaravakkam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Veerappa Nagar Main Road?

The current guideline value of Veerappa Nagar Main Road is Rs 4,950 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 470 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Veerappa Nagar Main Road?

Veerappa Nagar Main Road is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for a property in Veerappa Nagar Main Road?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 4,45,500.

Where is the Sub Registrar Office for Veerappa Nagar Main Road located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.