Guideline Value for VEERAMAMUNIVAR 1ST CROSS STREET

Veeramamunivar 1st Cross Street guideline value

The current guideline value of Veeramamunivar 1st Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village under the Neelankarai SRO, classified as Residential Special Type - IV.

How the guideline value of Veeramamunivar 1st Cross Street has changed

The guideline value for Veeramamunivar 1st Cross Street has seen several revisions over the years. In 2007, the value was set at Rs 800 per sq.ft, which significantly increased to Rs 5,000 per sq.ft in 2012, marking a substantial rise of 525%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, reflecting a decline of 33%. The value then increased again to Rs 5,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 5,500 per sq.ft, a rise of 10% from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 588%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. Veeramamunivar 1st Cross Street's 2024 figure of Rs 5,500 per sq.ft is above this median.

• Veeramamunivar Street: Rs 5,500 per sq.ft (2024)
• Veerapandia Kattapomman 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Veerapandia Kattapomman 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Veerapandia Kattapomman Street: Rs 3,300 per sq.ft (2024)
• Veeravanjinatha Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Veeravanjinatha Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Veeramamunivar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veeramamunivar 1st Cross Street?

The Veeramamunivar 1st Cross Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Perungudi. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is legally compliant and accurately recorded.

When buying or selling property, the guideline value serves as a benchmark for assessing the value of the property. It helps in establishing a fair basis for taxation and ensures transparency in property dealings.

Frequently asked questions

What is the current guideline value of Veeramamunivar 1st Cross Street?

The current guideline value of Veeramamunivar 1st Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 588% over this period.

What are the other streets in Perungudi with similar guideline values?

Other streets in Perungudi have varying guideline values, with Veeramamunivar Street also at Rs 5,500 per sq.ft, while several others range from Rs 2,800 to Rs 3,300 per sq.ft.

What fees are associated with buying property in Veeramamunivar 1st Cross Street?

When buying property, the fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.