Guideline Value for Veera Perumal Street

Veera Perumal Street guideline value

The current guideline value of Veera Perumal Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Veera Perumal Street has changed

The guideline value of Veera Perumal Street has seen several revisions over the years. In the 2007 revision, the value was Rs 945 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in the 2012 revision, marking a remarkable increase of 535%. However, in the 2017 revision, the value dropped to Rs 4,020 per sq.ft, reflecting a decrease of 33%. The subsequent revision in 2023 raised the value to Rs 6,000 per sq.ft, and the latest revision in 2024 set it at Rs 6,600 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Veera Perumal Street. Overall, from 2007 to 2024, the guideline value has increased by 598%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, which is equal to the current value of Veera Perumal Street.

• Veeraraghavan Street (Big Street): Rs 11,000 per sq.ft (2024)
• Veeranpuram Street (a) Veeran Parachery: Rs 2,700 per sq.ft (2024)
• Vasudevapuram Part: Rs 7,700 per sq.ft (2024)
• Venkatachala Chetty Street: Rs 6,600 per sq.ft (2024)
• Venkatachala Mudali Street: Rs 6,600 per sq.ft (2024)
• Venkatachala Naicken 1st Lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Veera Perumal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veera Perumal Street?

The Sub Registrar Office that covers Veera Perumal Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Triplicane. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When a buyer or seller approaches the registration office, the guideline value is used to determine the official value of the property, which may influence the overall transaction process. It is essential for both parties to be aware of the guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Veera Perumal Street?

The current guideline value of Veera Perumal Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 945 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 598% over the years.

What is the stamp duty rate for property in Veera Perumal Street?

The stamp duty rate for property in Veera Perumal Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Veera Perumal Street?

The Sub Registrar Office for Veera Perumal Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the guideline value determined for properties in Triplicane?

The guideline value for properties in Triplicane is determined based on various factors, including the land classification and the historical revisions of property values in the area.