Guideline Value for Veerappa Nagar 4th Street

Veerappa Nagar 4th Street guideline value

The current guideline value of Veerappa Nagar 4th Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street 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 4th Street has changed

The guideline value for Veerappa Nagar 4th Street has undergone several revisions over the years. In 2002, the value was Rs 429 per sq.ft, which increased to Rs 467 per sq.ft in 2003, marking a change of +9%. By 2007, the value saw a significant rise to Rs 650 per sq.ft, reflecting a change of +39%. The 2012 revision maintained the value at Rs 4,500 per sq.ft, showing no change from the previous year. The next revision in 2023 also kept the value at Rs 4,500 per sq.ft.

However, in the 2024 revision, the guideline value increased to Rs 4,950 per sq.ft, a change of +10% from 2023. Overall, from 2002 to 2024, the guideline value has increased by +1054%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Veerappa Nagar 4th Street above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, making the total cost for these fees Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Veerappa Nagar 4th Street?

The Sub Registrar Office that covers Veerappa Nagar 4th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for additional details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Valasaravakkam. It serves as a baseline for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is registered at a fair value, and it helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Veerappa Nagar 4th Street?

The current guideline value of Veerappa Nagar 4th Street 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 seen several changes from Rs 429 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, marking an overall increase of +1054%.

What is the land classification for Veerappa Nagar 4th Street?

Veerappa Nagar 4th Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office covers Veerappa Nagar 4th Street and is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 49,50,000, leading to specific fees based on this amount.