Guideline Value for VEERAVANJINATHAN NAGAR MAIN ROAD

Veeravanjinathan Nagar Main Road guideline value

The current guideline value of Veeravanjinathan Nagar Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Perungudi village under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of Veeravanjinathan Nagar Main Road has changed

The guideline value for Veeravanjinathan Nagar Main Road has seen 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. By 2007, the value rose significantly to Rs 600 per sq.ft, followed by a large jump to Rs 3,000 per sq.ft in 2012. However, the value then decreased by 33% to Rs 2,010 per sq.ft in 2017. The guideline value then increased to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision.

The changes between these revisions highlight significant fluctuations. From 2002 to 2003, there was a 13% increase, followed by a 140% rise from 2003 to 2007. The value saw a remarkable 400% increase from 2007 to 2012. After a 33% decrease from 2012 to 2017, the value increased by 49% from 2017 to 2023. The most recent revision from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 1,393% from 2002 to 2024.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO with a 2024 guideline value range from Rs 1,100 to Rs 8,800 per sq.ft. The median value among these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Veeravanjinathan Nagar Main Road.

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

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, while the registration fee at 2% would be Rs 66,000, bringing the total fees to 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veeravanjinathan Nagar Main Road?

The Sub Registrar Office that covers Veeravanjinathan Nagar Main Road 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 crucial factor in the registration process when buying or selling property in Perungudi. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a buyer purchases property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Veeravanjinathan Nagar Main Road?

The current guideline value of Veeravanjinathan Nagar Main Road 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, reflecting an overall increase of 1,393% over this period.

What is the range of guideline values in Perungudi?

The guideline values in Perungudi range from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

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