Guideline Value for VEERAKAVIRAYAR STREET (WARD -4)

Veerakavirayar Street (Ward -4) guideline value

The current guideline value of Veerakavirayar Street (Ward -4) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Veerakavirayar Street (Ward -4) has changed

The guideline value for Veerakavirayar Street has undergone several revisions over the years. As per the register, the value was Rs 1,200 per sq.ft in 2023, which was an increase from Rs 804 per sq.ft in 2017. The 2012 revision also recorded a value of Rs 1,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%. However, there was a decrease of 33% from 2012 to 2017. Overall, comparing the years 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Veerakavirayar Street's 2024 figure above that median.

• Veeramamunivar Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Veeran Alagumuthu Cone (Ward -8): Rs 1,760 per sq.ft (2024)
• Vasukiyar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Vellivithaiar Street (Ward -6): Rs 1,980 per sq.ft (2024)
• Vel 's Doctrs Metro Polis: Rs 1,980 per sq.ft (2024)
• Vasantham Nagar (Kr): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Veerakavirayar Street (Ward -4)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, bringing the total fees to Rs 1,18,890. It is important to note that 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 Veerakavirayar Street (Ward -4)?

Veerakavirayar Street (Ward -4) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Ninna Karai, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it can impact the overall cost involved in the transaction. The registration process relies heavily on this value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Veerakavirayar Street (Ward -4)?

The current guideline value of Veerakavirayar Street (Ward -4) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,321 per sq.ft in 2024, reflecting an overall increase of 10% from 2012 to 2024.

What is the land classification for Veerakavirayar Street?

Veerakavirayar Street is classified as Residential Special Type - V, which influences its guideline value and usage.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 1,321 per sq.ft, the stamp duty is 7% and the registration fee is 2%, totaling Rs 1,18,890 for a 1,000 sq.ft plot.

Which office handles the registration for Veerakavirayar Street?

The Chengleput Joint II Sub Registrar Office handles the registration for Veerakavirayar Street, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.