Guideline Value for Veppangulam Street

Veppangulam Street guideline value

The current guideline value of Veppangulam Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Veppangulam Street has changed

The guideline value for Veppangulam Street has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 800 per sq.ft in the 2023 revision, and further rose to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing Veppangulam Street's 2024 figure above that median.

• Venkatraman Street: Rs 880 per sq.ft (2024)
• Venkateswara Nagar: Rs 803 per sq.ft (2024)
• Venkataraman Street: Rs 880 per sq.ft (2024)
• Vengadachalam Street: Rs 880 per sq.ft (2024)
• V.O.C. Lakshmi Street: Rs 880 per sq.ft (2024)
• Vasanth Nagar Annex: Rs 807 per sq.ft (2024)

Stamp duty and registration fee for property in Veppangulam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veppangulam Street?

The Sub Registrar Office that covers Veppangulam Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kovilpathagai. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for legal property transfers.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in the real estate market. Buyers must be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Veppangulam Street?

The current guideline value of Veppangulam Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Veppangulam Street?

Veppangulam Street is classified as Residential Class II Type - I under the Ambattur SRO.

Where can I find the registration office for Veppangulam Street?

The Ambattur Sub Registrar Office covers Veppangulam Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai.

How is stamp duty calculated for properties on Veppangulam Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft property at the current guideline value of Rs 8,80,000, the stamp duty would be Rs 61,600 at 7%.