Guideline Value for VEERASAMY NAGAR 4TH STREET

Veerasamy Nagar 4th Street guideline value

The current guideline value of Veerasamy Nagar 4th Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Veerasamy Nagar 4th Street has changed

The guideline value for Veerasamy Nagar 4th Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly to Rs 1,650 per sq.ft, reflecting a rise of 64%. Overall, the guideline value increased by 10% from the 2012 figure to the 2024 figure.

There are no available figures for the revisions in 2023, 2007, 2003, and 2002 for this street.

Guideline values in Pallikaranai

Within Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the 2024 figure for Veerasamy Nagar 4th Street.

• Veerasamy Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Veerasamy Nagar Extn.: Rs 1,650 per sq.ft (2024)
• Veerasamy Nagar: Rs 1,650 per sq.ft (2024)
• Veerasamy Nagar Layout: Rs 1,650 per sq.ft (2024)
• Veerasmay Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Veerathamman 2nd Cross Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Veerasamy Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total fees Rs 1,48,500. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veerasamy Nagar 4th Street?

The Sub Registrar Office that covers Veerasamy Nagar 4th Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the transaction is recorded at a value that reflects the prevailing market conditions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Veerasamy Nagar 4th Street?

The current guideline value of Veerasamy Nagar 4th Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,650 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024 and an overall increase of 10% from 2012 to 2024.

Which Sub Registrar Office covers this street?

The Chennai South Joint I Sub Registrar Office covers Veerasamy Nagar 4th Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

What is the land classification of Veerasamy Nagar 4th Street?

Veerasamy Nagar 4th Street is classified as Residential Class IV Type - I, indicating its designation for residential purposes within the area.