Guideline Value for Veeramamunivar Street

Veeramamunivar Street guideline value

The current guideline value of Veeramamunivar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Veeramamunivar Street has changed

The guideline value for Veeramamunivar Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and further rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value in this area is Rs 2,725 per sq.ft, making the guideline value of Veeramamunivar Street notably above this median.

• Vanchinathan Street: Rs 3,300 per sq.ft (2024)
• Valmigi Street: Rs 3,300 per sq.ft (2024)
• Valar Garden: Rs 1,650 per sq.ft (2024)
• V.G.P.Gokul Nagar: Rs 3,300 per sq.ft (2024)
• Vaidhiyalingam Salai: Rs 2,725 per sq.ft (2024)
• V.G.P. Prabhu Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Veeramamunivar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Veeramamunivar Street?

The Sub Registrar Office that covers Veeramamunivar 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 Perumbakkam

The guideline value is a crucial factor when registering property transactions in Perumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property transfer process.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency and accountability in real estate dealings. It is essential to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Veeramamunivar Street?

The current guideline value of Veeramamunivar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office is responsible for Veeramamunivar Street?

The Selaiyur Sub Registrar Office is responsible for Veeramamunivar Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the property is recorded at a fair value, maintaining transparency in real estate dealings.