Guideline Value for VEERAPANDIYA KATTAPOMMAN STREET

Veerapandiya Kattapomman Street guideline value

The current guideline value of Veerapandiya Kattapomman Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Chemmancheri village under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Veerapandiya Kattapomman Street has changed

The guideline value of Veerapandiya Kattapomman Street has seen several revisions over the years. In 2003, the guideline value was Rs 65 per sq.ft, which increased to Rs 200 per sq.ft in 2007, marking a significant rise of 208%. The value then surged to Rs 1,500 per sq.ft in 2012, reflecting a massive increase of 650%. However, it dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33% from the previous revision. The value then increased again to Rs 1,500 per sq.ft in 2023, showing a rise of 49%. Finally, the current revision in 2024 set the value at Rs 1,700 per sq.ft, an increase of 13% from 2023.

It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, which is the same as the 2024 figure for Veerapandiya Kattapomman Street.

• Veervanjinathan Street: Rs 1,700 per sq.ft (2024)
• Vedagiri Garden: Rs 1,100 per sq.ft (2024)
• Vellai Garden: Rs 1,700 per sq.ft (2024)
• Velu Garden: Rs 1,700 per sq.ft (2024)
• Velu Street: Rs 1,700 per sq.ft (2024)
• Varadharaj Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Veerapandiya Kattapomman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total charges to Rs 1,53,000. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veerapandiya Kattapomman Street?

The Sub Registrar Office that covers Veerapandiya Kattapomman 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 Chemmancheri

The guideline value plays a crucial role during property registration in Chemmancheri. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory for legal transactions. This ensures that the transaction is recorded accurately and complies with the regulations set by the state.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. In such cases, the stamp duty is charged based on the higher of the two amounts, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Veerapandiya Kattapomman Street?

The current guideline value of Veerapandiya Kattapomman Street is Rs 1,700 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 65 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, representing an overall increase of 2,515% over the years.

What is the median guideline value for streets in Chemmancheri?

The median guideline value for the 195 streets in Chemmancheri under the Neelankarai SRO is Rs 1,700 per sq.ft, which is the same as the guideline value for Veerapandiya Kattapomman Street.

What are the stamp duty and registration fees for properties in Veerapandiya Kattapomman Street?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles registrations for Veerapandiya Kattapomman Street?

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