Guideline Value for Vaikkam Veerar Street

Vaikkam Veerar Street guideline value

The current guideline value of Vaikkam Veerar Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vaikkam Veerar Street has changed

The guideline value of Vaikkam Veerar Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 600 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in 2012, marking a rise of 117%. However, the value then decreased to Rs 871 per sq.ft in 2017, reflecting a decline of 33%. The 2023 revision saw the value rise again to Rs 1,300 per sq.ft, followed by an increase to Rs 1,400 per sq.ft in 2024, which is an 8% rise from the previous year.

It is important to note that the register has no figures for Vaikkam Veerar Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 133%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with 2024 guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Vaikkam Veerar Street's 2024 figure below this median.

• Valaiyapathy Street: Rs 1,600 per sq.ft (2024)
• Vallalar street: Rs 2,750 per sq.ft (2024)
• Valmiki Street: Rs 3,300 per sq.ft (2024)
• Vanjinathan Street: Rs 1,300 per sq.ft (2024)
• Varadarajan Nagar: Rs 1,800 per sq.ft (2024)
• Varadarajapuram: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Vaikkam Veerar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total to Rs 1,26,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vaikkam Veerar Street?

The Sub Registrar Office covering Vaikkam Veerar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid to the government. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used to calculate the applicable duties.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with state regulations. This value is updated periodically, and it is advisable to check the current rates before proceeding with any transactions.

Frequently asked questions

What is the current guideline value of Vaikkam Veerar Street?

The current guideline value of Vaikkam Veerar Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, marking an overall increase of 133% over the years.

What is the land classification of Vaikkam Veerar Street?

Vaikkam Veerar Street is classified as Residential Class III Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Vaikkam Veerar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 98,000.