Guideline Value for Veerama Munivar Street

Veerama Munivar Street guideline value

The current guideline value of Veerama Munivar Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Veerama Munivar Street has changed

The guideline value for Veerama Munivar Street has seen several revisions over the years. In 2007, the value was Rs 1,250 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this value decreased to Rs 2,345 per sq.ft in 2017. Following this, the value rose to Rs 3,500 per sq.ft in 2023, and further increased to the current value of Rs 3,900 per sq.ft in 2024. The revisions for the years 2002 and 2003 do not have figures listed for this street.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 saw a decrease of 33%, while there was a significant increase of 180% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 212%.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is the same as the guideline value for Veerama Munivar Street.

• Vembuliamman Koil Extension: Rs 3,900 per sq.ft (2024)
• Vempuli Amman Koil Street: Rs 3,900 per sq.ft (2024)
• Venkatachalam Street: Rs 3,900 per sq.ft (2024)
• Thurairaj Sreet: Rs 4,400 per sq.ft (2024)
• Thurairaj Lane: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Veerama Munivar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty, calculated at 7%, would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veerama Munivar Street?

The Sub Registrar Office that covers Veerama Munivar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Palavanthangal. It is used to determine the stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for buyers and sellers as it helps in estimating the costs involved in the property transaction. It ensures that the property is registered at a value recognized by the government, which is important for legal and taxation purposes.

Frequently asked questions

What is the current guideline value of Veerama Munivar Street?

The current guideline value of Veerama Munivar Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,250 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, with several revisions in between. Notably, it decreased from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017 before increasing again.

What are the other streets in Palavanthangal with the same guideline value?

Other streets in Palavanthangal with the same guideline value of Rs 3,900 per sq.ft include Vembuliamman Koil Extension, Vempuli Amman Koil Street, and Venkatachalam Street.

What is the registration fee for property in Veerama Munivar Street?

The registration fee for property in Veerama Munivar Street is calculated at 2% of the guideline value. For a plot valued at Rs 39,00,000, the registration fee would be Rs 78,000.

Where can I find the Sub Registrar Office for Veerama Munivar Street?

The Sub Registrar Office for Veerama Munivar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.