Guideline Value for VEERVANJINATHAN STREET

Veervanjinathan Street guideline value

The current guideline value of Veervanjinathan Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Veervanjinathan Street has changed

The guideline value for Veervanjinathan Street has undergone several revisions over the years. The earliest recorded revision in 2003 set the value at Rs 65 per sq.ft. This figure saw a significant increase in 2007 to Rs 1,334 per sq.ft, marking a change of +1952%. In 2012, the value was adjusted to Rs 1,500 per sq.ft, reflecting a decrease of -33%. The 2017 revision brought the value back up to Rs 1,005 per sq.ft, and then it rose again to Rs 1,500 per sq.ft in 2023, before reaching the current value of Rs 1,700 per sq.ft in 2024, which is an increase of +13%.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from the 2003 revision to the current 2024 revision, the guideline value has increased by +2515%.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value is Rs 1,700 per sq.ft, which is equal to the guideline value of Veervanjinathan Street.

• Veerapandiya Kattapomman Street: Rs 1,700 per sq.ft (2024)
• Vellai Garden: Rs 1,700 per sq.ft (2024)
• Vedagiri Garden: Rs 1,100 per sq.ft (2024)
• Velu Garden: Rs 1,700 per sq.ft (2024)
• Velu Street: Rs 1,700 per sq.ft (2024)
• Varadharaj Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Veervanjinathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees together to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Veervanjinathan Street?

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

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Chemmancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the official valuation of the property being transacted.

Frequently asked questions

What is the current guideline value of Veervanjinathan Street?

The current guideline value of Veervanjinathan Street is Rs 1,700 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 65 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of +2515% over this period.

What is the land classification for Veervanjinathan Street?

Veervanjinathan Street is classified as Residential Class IV Type - I under the Neelankarai SRO.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 17,00,000, the total fees would be Rs 1,53,000.

Where can I find the Sub Registrar Office for Veervanjinathan Street?

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