Guideline Value for VEERAVANJINATHA NAGAR 2ND CROSS STREET

Veeravanjinatha Nagar 2nd Cross Street guideline value

The current guideline value of Veeravanjinatha Nagar 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Veeravanjinatha Nagar 2nd Cross Street has changed

The guideline value for Veeravanjinatha Nagar 2nd Cross Street has undergone several revisions over the years. The earliest recorded value in 2002 was Rs 221 per sq.ft, which increased to Rs 250 per sq.ft in 2003, marking a 13% rise. In 2007, the value saw a significant increase to Rs 600 per sq.ft, reflecting a 140% change. The value remained at Rs 600 per sq.ft until 2012, when it increased to Rs 3,000 per sq.ft, resulting in a 400% rise. However, by 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the years not listed in the revisions. Overall, from 2002 to 2024, the guideline value has increased by 1,393%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Veeravanjinatha Nagar 2nd Cross Street.

• Veeravanjinatha Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Veeravanjinathan Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Veeravanjinathan Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Veerapandia Kattapomman Street: Rs 3,300 per sq.ft (2024)
• Veerapandia Kattapomman 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Veerapandia Kattapomman 1st Cross Street: Rs 2,800 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veeravanjinatha Nagar 2nd Cross Street?

The Sub Registrar Office that covers Veeravanjinatha Nagar 2nd Cross 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 information.

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

The guideline value is a critical factor during the registration process when buying or selling property in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. The higher of the guideline value or the sale price is considered for calculating these fees.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with legal requirements. This value is updated periodically and reflects the current market conditions in the area.

Frequently asked questions

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

The current guideline value of Veeravanjinatha Nagar 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a 10% rise. Overall, from 2002 to 2024, the value has increased by 1,393%.

What is the registration office for Veeravanjinatha Nagar 2nd Cross Street?

The registration office for Veeravanjinatha Nagar 2nd Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 33,00,000, leading to a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000.

What is the land classification of Veeravanjinatha Nagar 2nd Cross Street?

Veeravanjinatha Nagar 2nd Cross Street is classified as Residential Class II Type - II, which indicates its designation for residential use within the area.