Guideline Value for Verattishwarar Nagar

Verattishwarar Nagar guideline value

The current guideline value of Verattishwarar Nagar is Rs 1,200 per sq.ft, as per the 2023 revision. This area falls under the Gooduvancheri Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Verattishwarar Nagar has changed

Over the years, the guideline value of Verattishwarar Nagar has seen several revisions. In the 2007 revision, the value was set at Rs 550 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in the 2012 revision, marking a rise of 118%. However, in the 2017 revision, the value dropped to Rs 804 per sq.ft, which was a decrease of 33%. The most recent revision in 2023 saw the guideline value rise again to Rs 1,200 per sq.ft, reflecting an increase of 49% from the previous revision.

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 Vandalur

Verattishwarar Nagar is part of the Vandalur area, which falls under the Gooduvancheri SRO. Currently, there are no other streets in Vandalur listed with guideline values.

Stamp duty and registration fee for property in Verattishwarar Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, while the registration fee at 2% would be Rs 24,000. Together, the total cost for these charges would be Rs 1,08,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Verattishwarar Nagar?

The Gooduvancheri Sub Registrar Office covers Verattishwarar Nagar. The office is 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 Vandalur

When buying or selling property in Verattishwarar Nagar, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded accurately in the official registry.

Buyers and sellers should be aware that the guideline value is used to assess the minimum value of the property for taxation purposes. This means that even if the sale price is lower, the stamp duty will still be calculated based on the guideline value if it is higher.

Frequently asked questions

What is the current guideline value of Verattishwarar Nagar?

The current guideline value of Verattishwarar Nagar is Rs 1,200 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017, and finally returned to Rs 1,200 per sq.ft in 2023.

What is the land classification of Verattishwarar Nagar?

Verattishwarar Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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 are stamp duty and registration fees calculated in Verattishwarar Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000, leading to specific stamp duty and registration fees.