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 Sattamangalam village and falls under the Chengleput Joint II SRO, with a land classification of Residential Special Type - V.

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

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft, representing a decline of 33%. The value then increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and further rose to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no recorded figures for Veeramamunivar Street in the revisions for 2002, 2003, and 2007. The changes between the revisions indicate a notable fluctuation in the guideline values over the years, particularly the substantial increase from 2017 to 2023, which was 49%.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, which means that Veeramamunivar Street's 2024 figure is above the 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 would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the 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, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Sattamangalam, as it serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the fees reflect the current market conditions and property values in the area.

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 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Veeramamunivar Street has seen various changes, starting from Rs 1,200 per sq.ft in 2012, dropping to Rs 804 per sq.ft in 2017, and then rising to Rs 1,200 per sq.ft in 2023, before reaching Rs 1,320 per sq.ft in 2024.

What other streets have guideline values in Sattamangalam?

Other streets in Sattamangalam have varying guideline values, with rates ranging from Rs 440 to Rs 2,200 per sq.ft. Veeramamunivar Street's value is above the median of Rs 1,100 per sq.ft.

What fees are associated with buying property in Veeramamunivar Street?

When buying property in Veeramamunivar Street, you will incur a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Veeramamunivar Street?

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