Guideline Value for VEERAVANJINATHAN NAGAR 1ST STREET

Veeravanjinathan Nagar 1st Street guideline value

The current guideline value of Veeravanjinathan Nagar 1st 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 Veeravanjinathan Nagar 1st Street has changed

The guideline value for Veeravanjinathan Nagar 1st Street has undergone several revisions over the years. In 2002, the value was Rs 221 per sq.ft, which increased to Rs 250 per sq.ft in 2003, marking a 13% rise. The value saw a significant jump to Rs 600 per sq.ft in 2007, reflecting a 140% increase. By 2012, the value was Rs 3,000 per sq.ft, which was a 400% increase from the previous revision. However, it decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and finally, it reached Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,393%. There are no figures available for the revisions in years other than those specified.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, and Veeravanjinathan Nagar 1st Street's 2024 figure matches this median.

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

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

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

Which Sub Registrar Office covers Veeravanjinathan Nagar 1st Street?

The Sub Registrar Office that covers Veeravanjinathan Nagar 1st 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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Perungudi. It serves as a reference point for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value will be used to calculate the necessary fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Veeravanjinathan Nagar 1st Street?

The current guideline value of Veeravanjinathan Nagar 1st 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 changed significantly from Rs 221 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024. The most notable increase occurred from 2007 to 2012, where it rose to Rs 3,000 per sq.ft, and then saw a decline to Rs 2,010 per sq.ft in 2017.

What is the land classification of Veeravanjinathan Nagar 1st Street?

Veeravanjinathan Nagar 1st Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Perungudi?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.