Guideline Value for Veerabhadran Naiken Street

Veerabhadran Naiken Street guideline value

The current guideline value of Veerabhadran Naiken Street is Rs 2,750 per sq.ft as per the 2024 revision. This street is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Veerabhadran Naiken Street has changed

The guideline value for Veerabhadran Naiken Street has undergone several revisions over the years. Starting from the 2012 revision, the value was Rs 2,500 per sq.ft. In the 2017 revision, it decreased to Rs 1,675 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the value at Rs 2,750 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 years 2002, 2003, and 2007 in the register for this street. Overall, the guideline value has increased by 10% from the 2012 revision to the 2024 revision.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value among these streets is Rs 3,100 per sq.ft, placing Veerabhadran Naiken Street's current value below that median.

• Vembuli Street: Rs 1,950 per sq.ft (2024)
• Vanchinathan Street: Rs 3,850 per sq.ft (2024)
• Valluvar Salai: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Venkateswara Nagar 1st To 26th Cros: Rs 2,750 per sq.ft (2024)
• Venkateswara Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Veerabhadran Naiken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veerabhadran Naiken Street?

The Sub Registrar Office that covers Veerabhadran Naiken Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a property is sold or purchased, the registration office will use the guideline value to calculate the applicable fees, ensuring that the transaction is recorded accurately and legally. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the process.

Frequently asked questions

What is the current guideline value of Veerabhadran Naiken Street?

The current guideline value of Veerabhadran Naiken Street is Rs 2,750 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally reached Rs 2,750 per sq.ft in 2024.

What is the land classification of Veerabhadran Naiken Street?

Veerabhadran Naiken Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for Veerabhadran Naiken Street?

The Sub Registrar Office for Veerabhadran Naiken Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties on Veerabhadran Naiken Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at 7%.