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 Sattamangalam 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

Over the years, the guideline value for Veerakavirayar Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 804 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 1,200 per sq.ft in 2023, followed by a rise to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Veerakavirayar Street's 2024 figure 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, charged at 7%, would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

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

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

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

The guideline value plays a crucial role in the registration process of property transactions in Sattamangalam. It serves as the baseline for determining the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring compliance with the regulations set forth by the Registration Department.

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.

What is the land classification for Veerakavirayar Street?

Veerakavirayar Street is classified as Residential Special Type - V, indicating its suitability for residential purposes.

What are the stamp duty rates for property transactions?

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

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.