Guideline Value for Veeraraghava Nagar

Veeraraghava Nagar guideline value

The current guideline value of Veeraraghava Nagar is Rs 3,630 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village, under the Padappai SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Veeraraghava Nagar has changed

The guideline value for Veeraraghava Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 3,300 per sq.ft. This value decreased to Rs 2,211 per sq.ft in 2017, marking a decline of 33%. However, the subsequent revisions saw a significant increase, with the value rising to Rs 3,300 per sq.ft in 2023 and then to Rs 3,630 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the figures from 2012 to 2024, there has been a net increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Mudichur

Mudichur village has a total of 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Veeraraghava Nagar's 2024 figure above this median.

• Vasudeva Nagar: Rs 3,630 per sq.ft (2024)
• Varadharaja Perumal Nagar: Rs 1,210 per sq.ft (2024)
• Venkatathri Nagar: Rs 1,760 per sq.ft (2024)
• Venkateswara Avenue: Rs 2,200 per sq.ft (2024)
• Vallalar Street: Rs 1,210 per sq.ft (2024)
• Venkatheri Nagar: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Veeraraghava Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,630 per sq.ft, the total guideline value amounts to Rs 36,30,000. The stamp duty at 7% would be Rs 2,54,100, and the registration fee at 2% would be Rs 72,600, bringing the total cost together to Rs 3,26,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veeraraghava Nagar?

The Sub Registrar Office that covers Veeraraghava Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Mudichur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When you buy or sell property, the guideline value helps to facilitate a transparent transaction process. It ensures that both buyers and sellers are aware of the official value set by the registration department, which can aid in negotiations and final sale agreements.

Frequently asked questions

What is the current guideline value of Veeraraghava Nagar?

The current guideline value of Veeraraghava Nagar is Rs 3,630 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2012 to Rs 2,211 per sq.ft in 2017, then to Rs 3,300 per sq.ft in 2023, and finally to Rs 3,630 per sq.ft in 2024.

What is the median guideline value in Mudichur?

The median guideline value in Mudichur is Rs 2,200 per sq.ft, with Veeraraghava Nagar's 2024 figure being above this median.

What is the stamp duty rate for properties in Veeraraghava Nagar?

The stamp duty rate for properties in Veeraraghava Nagar is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Veeraraghava Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.