Guideline Value for VEERAMAMUNIVAR STREET

Veeramamunivar Street guideline value

The current guideline value of Veeramamunivar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Vengaivasal village under the Selaiyur SRO, classified as Industries Special Type - I.

How the guideline value of Veeramamunivar Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 2,010 per sq.ft, marking a decline of 33%. The value then saw a significant increase in the 2023 revision to Rs 3,000 per sq.ft, followed by a further rise to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO carrying a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Veeramamunivar Street is above this median.

• Velachery Main Road: Rs 3,700 per sq.ft (2024)
• Velavan Colony: Rs 950 per sq.ft (2024)
• Vengaivaasal Main Road: Rs 3,300 per sq.ft (2024)
• Valli Nagar: Rs 2,200 per sq.ft (2024)
• V.G.P. Avenue: Rs 1,900 per sq.ft (2024)
• V.G.P.Santhanammal Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Veeramamunivar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 more details.

Which Sub Registrar Office covers Veeramamunivar Street?

The Sub Registrar Office that covers Veeramamunivar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Vengaivasal, ensuring that the sale price is aligned with the officially registered values. When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is important for buyers and sellers to be aware of the guideline value, as it impacts the overall cost of property transactions. The registration process requires adherence to these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Veeramamunivar Street?

The current guideline value of Veeramamunivar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Veeramamunivar Street?

Veeramamunivar Street is classified as Industries Special Type - I, which indicates its intended use for industrial purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Veeramamunivar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.