Guideline Value for VEERAMAMUNIVAR STREET

Veeramamunivar Street guideline value

The current guideline value of Veeramamunivar Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village under the Neelankarai SRO, classified as Residential Special Type - IV.

How the guideline value of Veeramamunivar Street has changed

The guideline value for Veeramamunivar Street has experienced several revisions over the years. In 2002, the value was Rs 297 per sq.ft, which increased to Rs 335 per sq.ft in 2003. The value saw a significant rise to Rs 800 per sq.ft in 2007, followed by a jump to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017. The value then increased to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision.

Between the revisions, there have been notable changes. From 2002 to 2024, the overall increase is 1,752%. The value increased by 139% from 2003 to 2007, and then saw a massive rise of 525% from 2007 to 2012. The value fell by 33% from 2012 to 2017, but rose by 49% from 2017 to 2023, and finally increased by 10% from 2023 to 2024.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Veeramamunivar Street's 2024 figure above that median.

• Veeramamunivar 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Veerapandia Kattapomman 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Veerapandia Kattapomman 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Veerapandia Kattapomman Street: Rs 3,300 per sq.ft (2024)
• Veeravanjinatha Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Veeravanjinatha Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Veeramamunivar Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is crucial during property transactions in Perungudi, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Veeramamunivar Street?

The current guideline value of Veeramamunivar Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 297 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1,752% over this period.

What is the land classification of Veeramamunivar Street?

Veeramamunivar Street is classified as Residential Special Type - IV, indicating its suitability for residential development.

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

The Neelankarai Sub Registrar Office covers Veeramamunivar Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 4,95,000.