Guideline Value for VEERAMANI MAIN SALAI 4TH CROSS STREET

Veeramani Main Salai 4th Cross Street guideline value

The current guideline value of Veeramani Main Salai 4th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Veeramani Main Salai 4th Cross Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This value decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value significantly increased to Rs 3,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen an increase of 10%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the guideline value for Veeramani Main Salai 4th Cross Street.

• Veeramani Main Road 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Veeramani Salai Main Road: Rs 3,300 per sq.ft (2024)
• Veeramani Main Road 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Veeramani Main Road 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Va.Vo.Cee. Street(Near Ecr): Rs 2,800 per sq.ft (2024)
• Vellaikeni Kulam Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Veeramani Main Salai 4th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veeramani Main Salai 4th Cross Street?

The Sub Registrar Office that covers Veeramani Main Salai 4th Cross 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 Palavakkam

The guideline value is a crucial factor when registering property transactions in Palavakkam. It is used to determine the stamp duty and registration fees that are payable during the sale or purchase of a property.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair price, reflecting the current market conditions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Veeramani Main Salai 4th Cross Street?

The current guideline value of Veeramani Main Salai 4th Cross 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 increased 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 Veeramani Main Salai 4th Cross Street?

Veeramani Main Salai 4th Cross Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which office handles registrations for Veeramani Main Salai 4th Cross Street?

The Neelankarai Sub Registrar Office handles registrations for Veeramani Main Salai 4th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.