Guideline Value for VEENAS STREET

Veenas Street guideline value

The current guideline value of Veenas Street is Rs 800 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village under the Manavalanagar SRO, classified as Residential Class I Type - II.

How the guideline value of Veenas Street has changed

Veenas Street has seen several revisions in its guideline value over the years. The earliest recorded figure is from 2007, where the value was Rs 125 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, marking a 540% rise. However, from 2012 to 2017, the value decreased to Rs 536 per sq.ft, a drop of 33%. The guideline value then rose to Rs 800 per sq.ft in 2023 and remained unchanged in the 2024 revision.

Overall, from 2007 to 2024, the guideline value has increased by 540%. Notably, there are no figures available for the revisions in 2002 and 2003 for Veenas Street.

Guideline values in Vengathur

In Vengathur village, there are 186 streets under the Manavalanagar SRO that have a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. The guideline value of Veenas Street is below this median.

• Veeramamunivar Street: Rs 800 per sq.ft (2024)
• Va.Voo.See. Street: Rs 1,300 per sq.ft (2024)
• VELAYUTHA REDDY Ist GURUKU STREET: Rs 1,000 per sq.ft (2024)
• Velayutha Reddy Street: Rs 1,000 per sq.ft (2024)
• Varalakshmi Nagar: Rs 1,300 per sq.ft (2024)
• Velunachiyar Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Veenas Street

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that the 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 Veenas Street?

The Sub Registrar Office that covers Veenas Street is the Manavalanagar Sub Registrar Office. The address is Sub Registrar Office, Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Veenas Street?

The current guideline value of Veenas Street is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 800 per sq.ft in 2024, with various increases and one decrease in between these years.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, while Veenas Street's value is below this median.

What are the stamp duty rates for properties on Veenas Street?

The stamp duty for properties on Veenas Street is charged at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Veenas Street located?

The Sub Registrar Office for Veenas Street is located at Sub Registrar Office, Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.