Guideline Value for VEERAPANDIA KATTAPOMMAN 1ST CROSS STREET

Veerapandia Kattapomman 1st Cross Street guideline value

The current guideline value of Veerapandia Kattapomman 1st Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Veerapandia Kattapomman 1st Cross Street has changed

The guideline value for Veerapandia Kattapomman 1st Cross Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 600 per sq.ft. This value increased significantly to Rs 2,500 per sq.ft in 2012, marking a 317% rise. However, from 2012 to 2017, the guideline value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,800 per sq.ft, which is a 12% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 367%.

Guideline values in Perungudi

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Veerapandia Kattapomman 1st Cross Street?

The Sub Registrar Office that covers Veerapandia Kattapomman 1st 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 Perungudi

The guideline value is a crucial factor when buying or selling property in Perungudi. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware of the current guideline value to ensure they are compliant with the regulations set by the Registration Department.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Veerapandia Kattapomman 1st Cross Street?

The current guideline value of Veerapandia Kattapomman 1st Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 600 per sq.ft to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 367% over the years.

Which Sub Registrar Office handles registrations for this street?

The Neelankarai Sub Registrar Office handles registrations for Veerapandia Kattapomman 1st Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 28,00,000, the total fees would be Rs 2,52,000.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration regulations.