Guideline Value for VEERASAMI STREET

Veerasami Street guideline value

The current guideline value of Veerasami Street in Puliyur village, under the Kodambakkam SRO, is Rs 6,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - III.

How the guideline value of Veerasami Street has changed

Over the years, the guideline value of Veerasami Street has seen several revisions. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,800 per sq.ft in the 2012 revision, marking a rise of 222%. However, the value dropped to Rs 3,886 per sq.ft in 2017, reflecting a decrease of 33%. The 2023 revision set the value at Rs 5,800 per sq.ft, and the most recent revision in 2024 has increased it to Rs 6,300 per sq.ft, a rise of 9%.

From 2017 to 2023, the increase was substantial at 49%. Overall, from the 2007 revision to the current 2024 value, there has been a remarkable increase of 250%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value in this village is Rs 5,800 per sq.ft, indicating that Veerasami Street's 2024 figure is above that median.

• Veerapandiya Nagar 5th Street: Rs 5,000 per sq.ft (2024)
• Veerapandiya Nagar 4th Street: Rs 5,000 per sq.ft (2024)
• Veerapandiya Nagar 3rd Street: Rs 5,000 per sq.ft (2024)
• Veerapandiya Nagar 3rd Cross Street (West): Rs 5,000 per sq.ft (2024)
• Veerapandiya Nagar 2nd Street: Rs 5,000 per sq.ft (2024)
• Veerapandiya Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Veerasami Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value amounts to Rs 63,00,000. The stamp duty at 7% would be Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, bringing the total cost for these fees to Rs 5,67,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veerasami Street?

The Sub Registrar Office that covers Veerasami Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial reference point when buying or selling property in Puliyur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a value that reflects the area’s property standards. This value is essential for both buyers and sellers to understand their financial obligations during a property transaction.

Frequently asked questions

What is the current guideline value of Veerasami Street?

The current guideline value of Veerasami Street is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 6,300 per sq.ft in 2024, reflecting an overall increase of 250% over the years.

What is the land classification for Veerasami Street?

Veerasami Street is classified as Residential Special Type - III, indicating its intended use for residential purposes.

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

For a property valued at Rs 63,00,000, the stamp duty would be Rs 4,41,000 and the registration fee would be Rs 1,26,000, totaling Rs 5,67,000.

Which office handles registrations for Veerasami Street?

The Kodambakkam Sub Registrar Office handles registrations for Veerasami Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.