Guideline Value for VEERAMA MUNIVAR STREET

Veerama Munivar Street guideline value

The current guideline value of Veerama Munivar Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Thiruvancheri village under the Pallavaram Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Veerama Munivar Street has changed

The guideline value for Veerama Munivar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which decreased to Rs 1,206 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 24%, bringing the value to Rs 1,500 per sq.ft. The most recent revision in 2024 has seen a further increase of 32%, establishing the current guideline value at Rs 1,980 per sq.ft.

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

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, which is equal to the guideline value of Veerama Munivar Street.

• Vembuliamman Koil Street: Rs 1,980 per sq.ft (2024)
• Venugopal Pillai Street: Rs 1,980 per sq.ft (2024)
• Vetri Nagar: Rs 3,850 per sq.ft (2024)
• Vaijayanthi Mala Bali Street: Rs 1,980 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,980 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Veerama Munivar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,980 per sq.ft, the guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600. Together, the total cost for stamp duty and registration would be Rs 1,78,200. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Veerama Munivar Street?

The Sub Registrar Office that covers Veerama Munivar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Thiruvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government collects the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is referenced to ascertain the fees involved in the transaction. Buyers should be aware that the registration office will consider the guideline value or the sale price, whichever is higher, to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Veerama Munivar Street?

The current guideline value of Veerama Munivar Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Veerama Munivar Street?

The land classification for Veerama Munivar Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Veerama Munivar Street?

The Sub Registrar Office for Veerama Munivar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Veerama Munivar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,980 per sq.ft, the total stamp duty and registration fees would amount to Rs 1,78,200.