Guideline Value for VEERAKAVIRAYAR STREET (WARD -4)

Veerakavirayar Street (Ward -4) guideline value

The current guideline value of Veerakavirayar Street (Ward -4) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur 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

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 804 per sq.ft, marking a drop of 33%. The 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision further raised it to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The most significant change occurred between 2017 and 2023, where the value rose by 49% from Rs 804 per sq.ft to Rs 1,200 per sq.ft.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for the village is Rs 990 per sq.ft, which means that Veerakavirayar Street's 2024 figure of Rs 1,320 per sq.ft is above this median.

• Veeramamunivar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Veeran Alagumuthu Cone (Ward -8): Rs 1,760 per sq.ft (2024)
• Vasukiyar Street (Ward -7): Rs 1,320 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Veerakavirayar Street (Ward -4)?

The Sub Registrar Office covering Veerakavirayar Street (Ward -4) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property transactions in Panangottur. It serves as a benchmark for determining the minimum value at which properties can be registered. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

Buyers and sellers must be aware that the guideline value is subject to periodic revisions, which can affect the costs associated with property transactions. It is advisable to check the current guideline value before proceeding with any sale or purchase to ensure compliance with registration requirements.

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 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024. The most significant increase occurred between 2017 and 2023.

What is the land classification for Veerakavirayar Street?

Veerakavirayar Street is classified as Residential Special Type - V. This classification impacts the guideline value and the types of properties that can be developed in the area.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is stamp duty calculated for properties in Veerakavirayar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400.