Guideline Value for Veerabedran Street

Veerabedran Street guideline value

The current guideline value of Veerabedran Street is Rs 1,100 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 IV Type - I.

How the guideline value of Veerabedran Street has changed

The guideline value for Veerabedran Street has seen several revisions over the years. The earliest recorded value was Rs 450 per sq.ft in 2007. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 122%. However, it then decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The value increased again to Rs 1,000 per sq.ft in 2023, which was a 49% increase from the previous revision. The latest revision in 2024 has set the guideline value at Rs 1,100 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no recorded figures for Veerabedran Street in the revisions of 2002 and 2003.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Veerabedran Street's 2024 figure below that median.

• Vedhachalam Street: Rs 1,600 per sq.ft (2024)
• Velachery Main Road: Rs 6,500 per sq.ft (2024)
• Vasuki Street: Rs 1,800 per sq.ft (2024)
• Vasanthi Colony: Rs 850 per sq.ft (2024)
• Velmurugan street: Rs 950 per sq.ft (2024)
• Vembuliamman koil Street: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Veerabedran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 Veerabedran Street?

The Sub Registrar Office that covers Veerabedran 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 critical factor when buying or selling property in Selaiyur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the property registration process.

When a property is sold, the guideline value serves as a benchmark for taxation purposes. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Veerabedran Street?

The current guideline value of Veerabedran Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, starting from Rs 450 per sq.ft in 2007, increasing to Rs 1,000 in 2012, then decreasing to Rs 670 in 2017. It rose to Rs 1,000 in 2023 and is now Rs 1,100 in 2024.

What are the other streets in Selaiyur with their guideline values?

Other streets in Selaiyur include Vedhachalam Street at Rs 1,600 per sq.ft, Velachery Main Road at Rs 6,500 per sq.ft, and Vasuki Street at Rs 1,800 per sq.ft, among others.

What are the stamp duty and registration fees for property in Veerabedran Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Veerabedran Street located?

The Sub Registrar Office for Veerabedran 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.