Guideline Value for VEERATHAMMAN 2ND CROSS STREET

Veerathamman 2nd Cross Street guideline value

The current guideline value of Veerathamman 2nd Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Veerathamman 2nd Cross Street has changed

The guideline value for Veerathamman 2nd Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,200 per sq.ft. This value remained until the 2017 revision, where it decreased to Rs 804 per sq.ft. Following this, the 2023 revision saw a significant increase to Rs 1,200 per sq.ft, and the latest revision in 2024 set the value at Rs 1,320 per sq.ft.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value is Rs 1,650 per sq.ft, placing Veerathamman 2nd Cross Street's 2024 figure below this median.

• Veerasmay Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Veerathamman Koil Street: Rs 1,320 per sq.ft (2024)
• Veerasamy Nagar Layout: Rs 1,650 per sq.ft (2024)
• Veerasamy Nagar Extn.: Rs 1,650 per sq.ft (2024)
• Veerasamy Nagar 4th Street: Rs 1,650 per sq.ft (2024)
• Veerasamy Nagar 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Veerathamman 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total cost for these fees Rs 1,18,800. It is important to note that 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 Veerathamman 2nd Cross Street?

The Sub Registrar Office that covers Veerathamman 2nd Cross 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 is a crucial factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that the government receives the correct revenue from property transactions. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Veerathamman 2nd Cross Street?

The current guideline value of Veerathamman 2nd Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which Sub Registrar Office covers this street?

The Chennai South Joint I Sub Registrar Office covers Veerathamman 2nd Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Veerathamman 2nd Cross Street?

The land classification for Veerathamman 2nd Cross Street is Residential Class IV Type - II.