Guideline Value for Velmurugan Nagar

Velmurugan Nagar guideline value

The current guideline value of Velmurugan Nagar is Rs 1,000 per sq.ft, as per the 2023 revision. This area is located in Urapakkam village and falls under the Gooduvancheri SRO. The land classification for this region is Residential Class II Type - I.

How the guideline value of Velmurugan Nagar has changed

Over the years, the guideline value of Velmurugan Nagar has seen several revisions. In 2007, the guideline value was Rs 476 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 110%. However, from 2012 to 2017, the value decreased to Rs 670 per sq.ft, a drop of 33%. The latest revision in 2023 brought the guideline value back up to Rs 1,000 per sq.ft, reflecting a 49% increase from the 2017 figure.

Overall, from 2007 to 2023, the guideline value has increased by 110%. 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 Urapakkam

Currently, there are no specific village figures available for Urapakkam. The guideline value of Velmurugan Nagar is Rs 1,000 per sq.ft. There are no other streets in Urapakkam under the Gooduvancheri SRO provided in the available data.

Stamp duty and registration fee for property in Velmurugan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the 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, making the total Rs 90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Velmurugan Nagar?

The Sub Registrar Office that covers Velmurugan Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Urapakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Velmurugan Nagar?

The current guideline value of Velmurugan 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, with a rise from Rs 476 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012. It then decreased to Rs 670 per sq.ft in 2017 before returning to Rs 1,000 per sq.ft in 2023.

What is the land classification for Velmurugan Nagar?

Velmurugan Nagar is classified as Residential Class II Type - I, indicating its designation for residential use.

Where is the Gooduvancheri Sub Registrar Office located?

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

How is stamp duty calculated for properties in Velmurugan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 90,000.