Guideline Value for VEERAMAMUNIVAR STREET (WARD -4)

Veeramamunivar Street (Ward -4) guideline value

The current guideline value of Veeramamunivar Street (Ward -4) is Rs 1,321 per sq.ft. This street is located in Ninna Karai village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - V.

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

The guideline value for Veeramamunivar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. However, the value saw a significant increase to Rs 1,200 per sq.ft in the 2023 revision, and the latest revision in 2024 has raised it further to Rs 1,321 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 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, making the 2024 guideline value of Veeramamunivar Street above the median.

• Veeran Alagumuthu Cone (Ward -8): Rs 1,760 per sq.ft (2024)
• Veerakavirayar Street (Ward -4): 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)
• Vasukiyar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Vasantham Nagar (Kr): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Veeramamunivar 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, while the registration fee at 2% would be Rs 26,420. Together, the total amount for stamp duty and registration fee would be Rs 1,18,890. 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 Street (Ward -4)?

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

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

The guideline value is a crucial factor when registering property transactions in Ninna Karai. It helps determine the stamp duty and registration fees that are applicable during the sale or purchase of property in the area.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Veeramamunivar 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 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 1,321 per sq.ft in 2024.

What is the land classification for Veeramamunivar Street?

Veeramamunivar Street is classified as Residential Special Type - V according to the guideline value register.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value or sale price.

Where is the Sub Registrar Office for Veeramamunivar Street located?

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