Guideline Value for VEERAPANDIA KATTAPOMMAN 2ND CROSS STREET

Veerapandia Kattapomman 2nd Cross Street guideline value

The current guideline value of Veerapandia Kattapomman 2nd 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. The land classification for this area is Residential Class III Type - I.

How the guideline value of Veerapandia Kattapomman 2nd Cross Street has changed

The guideline value has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 317%. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 2,500 per sq.ft in 2023, followed by another rise to Rs 2,800 per sq.ft in 2024, reflecting a 12% increase.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2007 to 2024, the guideline value increased by 367%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungudi

Within Perungudi, there are 249 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Veerapandia Kattapomman 2nd Cross Street is below this median.

• Veerapandia Kattapomman 1st 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 2nd 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. 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 Veerapandia Kattapomman 2nd Cross Street?

The Sub Registrar Office that covers Veerapandia Kattapomman 2nd 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 details.

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

The guideline value is a crucial factor during property registration in Perungudi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects the prevailing market conditions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the property transaction process. This ensures transparency and compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Veerapandia Kattapomman 2nd Cross Street?

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

How has the guideline value changed over the years?

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

What is the land classification for this street?

The land classification for Veerapandia Kattapomman 2nd Cross Street is Residential Class III Type - I.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Veerapandia Kattapomman 2nd Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Veerapandia Kattapomman 2nd 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.