Guideline Value for Veerabadra Iyer Cross Street

Veerabadra Iyer Cross Street guideline value

The current guideline value of Veerabadra Iyer Cross Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Veerabadra Iyer Cross Street has changed

The guideline value for Veerabadra Iyer Cross Street has undergone several revisions over the years. The 2007 revision set the value at Rs 3,000 per sq.ft. This increased significantly to Rs 8,000 per sq.ft in the 2012 revision, marking a 167% rise. However, in the 2017 revision, the value dropped to Rs 5,360 per sq.ft, a decrease of 33%. The 2023 revision saw it rise again to Rs 8,000 per sq.ft, and the most recent 2024 revision has set the value at Rs 8,800 per sq.ft, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

Nungambakkam village features a range of guideline values across its 270 streets under the Chennai Central Joint II SRO, with values ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, which matches the 2024 figure for Veerabadra Iyer Cross Street.

• Veerabadra Street: Rs 11,500 per sq.ft (2024)
• Velayutham Street: Rs 6,600 per sq.ft (2024)
• Valluvar Kuppam: Rs 7,100 per sq.ft (2024)
• Valluvarkottam High Road (or) Village Road: Rs 13,200 per sq.ft (2024)
• Valluvarkottam 2nd Lane: Rs 8,800 per sq.ft (2024)
• Valluvarkottam 1st Lane: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Veerabadra Iyer Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veerabadra Iyer Cross Street?

The Sub Registrar Office that covers Veerabadra Iyer Cross Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Nungambakkam. It is used to determine the stamp duty and registration fees that must be paid during the transfer of property ownership. Buyers and sellers should be aware that the guideline value may differ from the actual sale price of the property.

When a property is sold, the registration office will assess the higher of the guideline value or the sale price to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Veerabadra Iyer Cross Street?

The current guideline value of Veerabadra Iyer Cross Street is Rs 8,800 per sq.ft, which is effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 3,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 193% over the years.

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

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office covers this street?

The Chennai Central Joint II Sub Registrar Office covers Veerabadra Iyer Cross Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification for Veerabadra Iyer Cross Street?

The land classification for Veerabadra Iyer Cross Street is Residential Special Type - II, indicating its designated use for residential purposes.