Guideline Value for VEERAMAMUNIVAR STREET

Veeramamunivar Street guideline value

The current guideline value of Veeramamunivar Street is Rs 4,620 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village, under the Chennai South Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Veeramamunivar Street has changed

The guideline value for Veeramamunivar Street has undergone several revisions over the years. In 2002, the value was Rs 439 per sq.ft, which increased to Rs 506 per sq.ft in 2003, marking a 15% rise. Following this, the value saw a significant increase to Rs 1,000 per sq.ft in 2007, reflecting a 98% change. The 2012 revision set the value at Rs 4,200 per sq.ft, a remarkable increase of 320% from the previous revision.

In 2017, the guideline value dropped to Rs 2,814 per sq.ft, which was a decrease of 33%. However, the value rebounded to Rs 4,200 per sq.ft in 2023, before reaching the current rate of Rs 4,620 per sq.ft in 2024, representing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 952%.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value for these streets is Rs 4,620 per sq.ft, which is equal to the guideline value of Veeramamunivar Street.

• Vandikara Street: Rs 8,250 per sq.ft (2024)
• Valli Lane: Rs 3,080 per sq.ft (2024)
• Visalakshi Nagar 1st Cross St: Rs 6,610 per sq.ft (2024)
• Visalakshi Nagar 2nd Cross St: Rs 6,610 per sq.ft (2024)
• Visalakshi Nagar 3rd Cross St: Rs 6,610 per sq.ft (2024)
• Visalakshi Nagar Main Road: Rs 6,610 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 4,620 per sq.ft, the total guideline value would be Rs 46,20,000. The stamp duty at 7% would amount to Rs 3,23,400, while the registration fee at 2% would be Rs 92,400, bringing the total fees to Rs 4,15,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Veeramamunivar Street?

Veeramamunivar Street falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for properties in Ekkaduthangal. It is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per government regulations.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property, which can influence negotiations and final sale agreements. It is advisable for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Veeramamunivar Street?

The current guideline value of Veeramamunivar Street is Rs 4,620 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 439 per sq.ft in 2002 to Rs 4,620 per sq.ft in 2024, reflecting an overall increase of 952%.

What are the stamp duty and registration fees for properties on Veeramamunivar Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would be Rs 4,15,800.

Which office handles registrations for Veeramamunivar Street?

The Chennai South Joint I Sub Registrar Office manages registrations for Veeramamunivar Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the median guideline value for streets in Ekkaduthangal?

The median guideline value for streets in Ekkaduthangal is Rs 4,620 per sq.ft, which is the same as the guideline value for Veeramamunivar Street.