Guideline Value for VEERAPATHRAN STREET

Veerapathran Street guideline value

The current guideline value of Veerapathran Street, located in Uthandi village under the Neelankarai SRO, is Rs 2,200 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Veerapathran Street has changed

The guideline value for Veerapathran Street has experienced several revisions over the years. In the 2003 revision, the value was set at Rs 85 per sq.ft. This figure saw a significant increase in the 2007 revision, where it rose to Rs 300 per sq.ft, marking a change of +253%. The 2012 revision brought the value to Rs 2,000 per sq.ft, which was a substantial increase of +567% from the previous figure. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, reflecting a change of -33%. The 2023 revision saw the value increase again to Rs 2,000 per sq.ft, and the most recent 2024 revision set it at Rs 2,200 per sq.ft, resulting in a change of +10%.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by +2488%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. Veerapathran Street's 2024 figure of Rs 2,200 per sq.ft is above this median.

• Veerapathran Gopal Street: Rs 2,200 per sq.ft (2024)
• Veerasamy Garden: Rs 1,100 per sq.ft (2024)
• Velallar Salai: Rs 3,300 per sq.ft (2024)
• Vellalar Street: Rs 3,300 per sq.ft (2024)
• Velu Garden (Thottam): Rs 1,100 per sq.ft (2024)
• Velu Thottam/Jagatheesan Thottam: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Veerapathran Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty is charged at 7%, which totals Rs 1,54,000, and the registration fee is 2%, amounting to Rs 44,000. Together, these fees come to Rs 1,98,000. 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 information.

Which Sub Registrar Office covers Veerapathran Street?

The Sub Registrar Office covering Veerapathran 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 Uthandi

The guideline value plays a crucial role in the registration of property transactions in Uthandi. It is used to determine the stamp duty and registration fees that buyers must pay during the registration process. Buyers should be aware that the stamp duty is calculated based on the higher value between the guideline value and the sale price.

When selling property, the guideline value ensures that the sale is recorded accurately and that the appropriate taxes are collected. It serves as a benchmark for property transactions and helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Veerapathran Street?

The current guideline value of Veerapathran Street is Rs 2,200 per sq.ft as per the 2024 revision, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 85 per sq.ft to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +2488% over the years.

What is the land classification for Veerapathran Street?

Veerapathran Street is classified under Residential Class II Type - I land classification.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, the total fees amount to Rs 1,98,000.

Which office handles registrations for Veerapathran Street?

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