Guideline Value for VEERAPANDIAN STREET

Veerapandian Street guideline value

The current guideline value of Veerapandian Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Veerapandian Street has changed

The guideline value for Veerapandian Street has seen several revisions over the years. The earliest recorded revision in 2002 was Rs 420 per sq.ft, which increased to Rs 461 per sq.ft in 2003, marking a 10% rise. The value then rose by 30% to Rs 600 per sq.ft in 2007, followed by a significant increase of 483% to Rs 3,500 per sq.ft in 2012. However, from 2012 to 2017, the value decreased by 33% to Rs 2,345 per sq.ft.

In the latest revision for 2024, the guideline value has increased by 62% from the 2017 figure to reach Rs 3,800 per sq.ft. Overall, from 2002 to 2024, there has been a substantial increase of 805% in the guideline value for this street. The register does not have a figure for the year 2023.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Veerapandian Street's 2024 figure is above this median.

• Veeraragavan Street: Rs 3,800 per sq.ft (2024)
• Veera Sowcar Street: Rs 3,800 per sq.ft (2024)
• Vedachala Mudali Street: Rs 3,200 per sq.ft (2024)
• Vasugi Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 5th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Veerapandian Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total cost for these fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veerapandian Street?

The Sub Registrar Office covering Veerapandian Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official rates set by the government.

When a property transaction occurs, the buyer and seller must adhere to the guideline value to ensure compliance with local regulations. This helps maintain transparency in property transactions and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Veerapandian Street?

The current guideline value of Veerapandian Street is Rs 3,800 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 420 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 805% over this period.

What are the stamp duty and registration fees for property in Veerapandian Street?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which Sub Registrar Office handles registrations for Veerapandian Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles registrations for Veerapandian Street.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the costs are calculated based on official rates set by the government, maintaining transparency in the process.