Guideline Value for Veerakutty Street

Veerakutty Street guideline value

The current guideline value of Veerakutty Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Veerakutty Street has changed

The guideline value for Veerakutty Street has undergone several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it saw a decrease to Rs 1,005 per sq.ft in 2017. Following this, the value rose to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,600 per sq.ft as of the 2024 revision. The register has no figure for this street in 2002 and 2003.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023. The latest revision shows a 7% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 129%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is equal to the current value of Veerakutty Street.

• Veeraraghavan Lane: Rs 1,600 per sq.ft (2024)
• Veeraraghavan Road: Rs 2,200 per sq.ft (2024)
• Vathiyar eagappan Street: Rs 2,200 per sq.ft (2024)
• Vathiyar eagappan Cross Street: Rs 2,200 per sq.ft (2024)
• Velayutha Pandi Lane: Rs 2,200 per sq.ft (2024)
• Velayutha Pandi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Veerakutty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. 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 Veerakutty Street?

The Sub Registrar Office that covers Veerakutty Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Veerakutty Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 129% over the years.

What is the stamp duty for properties on Veerakutty Street?

The stamp duty for properties on Veerakutty Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Veerakutty Street located?

The Sub Registrar Office for Veerakutty Street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What other streets in Tondaiarpet have similar guideline values?

Other streets in Tondaiarpet with similar guideline values include Veeraraghavan Lane at Rs 1,600 per sq.ft and several others at Rs 2,200 per sq.ft.