Guideline Value for VEERAMAMUNIVAR STREET (WARD -4)

Veeramamunivar Street (Ward -4) guideline value

The current guideline value of Veeramamunivar Street (Ward -4) is Rs 1,320 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 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 remained unchanged in the 2017 revision, where it dropped to Rs 804 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the value to Rs 1,320 per sq.ft, a change of 10% from the previous year.

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, there has been a cumulative increase of 10% in the guideline value.

Guideline values in Panangottur

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

• Veeran Alagumuthu Cone (Ward -8): Rs 1,760 per sq.ft (2024)
• Veerakavirayar Street (Ward -4): 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)
• Vasukiyar Street (Ward -7): Rs 1,320 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to 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.

For further calculations, you can use our stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Veeramamunivar 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 Panangottur

The guideline value is a crucial factor when buying or selling property in Panangottur. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately in the official records. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Veeramamunivar Street?

The current guideline value of Veeramamunivar 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 1,320 per sq.ft in 2024, with various fluctuations in between, including a drop to Rs 804 per sq.ft in 2017.

What are the stamp duty and registration fees for property in Veeramamunivar Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 13,20,000, resulting in a stamp duty of Rs 92,400 and a registration fee of Rs 26,400, totaling Rs 1,18,800.

Which Sub Registrar Office covers Veeramamunivar Street?

The Chengleput Joint II Sub Registrar Office covers Veeramamunivar Street, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Veeramamunivar Street?

The land classification for Veeramamunivar Street (Ward -4) is Residential Special Type - V, indicating its designated use for residential purposes.