Guideline Value for Veeerasamy pillai street

Veeerasamy pillai street guideline value

The current guideline value of Veeerasamy pillai street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet Sub Registrar Office (SRO), and is classified as Residential Class II Type - I.

How the guideline value of Veeerasamy pillai street has changed

The guideline value of Veeerasamy pillai street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 1,500 per sq.ft. This increased significantly to Rs 6,500 per sq.ft in the 2012 revision, marking a rise of 333%. However, in the 2017 revision, the value decreased to Rs 4,355 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 6,500 per sq.ft in the 2023 revision, which was a 49% increase. The most recent revision in 2024 set the value at Rs 7,100 per sq.ft, representing a 9% increase from the previous year.

It is important to note that there are no figures available for Veeerasamy pillai street in the 2002 and 2003 revisions.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which is the same as the current guideline value for Veeerasamy pillai street.

• Veerabadra Achari Street: Rs 7,100 per sq.ft (2024)
• Vasu salai: Rs 13,400 per sq.ft (2024)
• Veeraraghavan Street: Rs 3,900 per sq.ft (2024)
• Velayudha Achary street: Rs 3,900 per sq.ft (2024)
• Velayudha chetty 1st lane: Rs 3,900 per sq.ft (2024)
• Velayudha chetty 2nd lane: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Veeerasamy pillai street

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. 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 details.

Which Sub Registrar Office covers Veeerasamy pillai street?

The Sub Registrar Office that covers Veeerasamy pillai street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Egmore. It serves as a benchmark for assessing the value of a property and is used to calculate the applicable stamp duty and registration fees during the sale or purchase process.

When registering a property, the guideline value determines the minimum value on which stamp duty is calculated. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Veeerasamy pillai street?

The current guideline value of Veeerasamy pillai street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 373% over the years.

What is the land classification for Veeerasamy pillai street?

Veeerasamy pillai street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Veeerasamy pillai street?

The Sub Registrar Office for Veeerasamy pillai street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Egmore?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. The current rate for stamp duty is 7% of the guideline value.