Guideline Value for VEERARAGAVAN STREET

Veeraragavan Street guideline value

The current guideline value of Veeraragavan 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 Veeraragavan Street has changed

The guideline value for Veeraragavan Street has seen several revisions over the years. In 2003, the value was Rs 369 per sq.ft, which increased to Rs 600 per sq.ft in 2007. The value then rose significantly to Rs 3,500 per sq.ft in 2012, before dropping to Rs 2,345 per sq.ft in 2017. The 2023 revision set the guideline value at Rs 3,500 per sq.ft, which was then increased to Rs 3,800 per sq.ft in 2024, marking a 9% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 930%. There is no figure available for the year 2002 in the register for this street.

Guideline values in Perambur

In Perambur, the guideline values range from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Veeraragavan Street is above this median, reflecting its current valuation.

• Veera Sowcar Street: Rs 3,800 per sq.ft (2024)
• Veerapandian 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 Veeraragavan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. It's important 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 further calculations.

Which Sub Registrar Office covers Veeraragavan Street?

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

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

The guideline value plays a critical role in the registration process of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Veeraragavan Street?

The current guideline value of Veeraragavan 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 increased from Rs 369 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 930% over this period.

What are the stamp duty and registration fees for properties on Veeraragavan 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 office handles property registrations for Veeraragavan Street?

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

What is the land classification for Veeraragavan Street?

Veeraragavan Street is classified as Residential Class II Type - II, indicating its designated use for residential purposes.