Guideline Value for Veeramamunivar Street

Veeramamunivar Street guideline value

The current guideline value of Veeramamunivar Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village under the Alandur SRO, classified as Residential Class II Type - I.

How the guideline value of Veeramamunivar Street has changed

The guideline value for Veeramamunivar Street has undergone several revisions over the years. In 2002, the value was Rs 304 per sq.ft, which increased to Rs 346 per sq.ft in 2003. Following this, the value rose significantly to Rs 700 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, it saw a decrease to Rs 1,675 per sq.ft in 2017, before rising to Rs 2,500 per sq.ft again in 2023. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, marking a 12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 821%. The revisions for the years 2012 to 2017 showed a decrease of 33%, while the increase from 2017 to 2023 was 49%. There are no figures available for other revisions for this street.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft, with a median value of Rs 3,900 per sq.ft. Veeramamunivar Street's 2024 figure is below this median.

• Veeraragavan (lane) Street: Rs 4,400 per sq.ft (2024)
• Vembuli Amman Koil 1st Lane: Rs 3,300 per sq.ft (2024)
• Vembuli Amman Koil 2nd Lane: Rs 3,300 per sq.ft (2024)
• Venugopalapuram: Rs 3,900 per sq.ft (2024)
• T N G O COLONY 7th Street: Rs 3,900 per sq.ft (2024)
• T N G O Colony 6th Street: Rs 3,900 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veeramamunivar Street?

The Sub Registrar Office that covers Veeramamunivar 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nanganallur. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the transaction reflects the prevailing market conditions as per the government’s assessment.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the state government receives appropriate revenue from property transactions, contributing to local development and infrastructure.

Frequently asked questions

What is the current guideline value of Veeramamunivar Street?

The current guideline value of Veeramamunivar Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 304 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, representing an overall increase of 821% over this period.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is typically 7%, which is applied to the guideline value or the sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

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

What are the other streets in Nanganallur with guideline values?

Other streets in Nanganallur include Veeraragavan (lane) Street at Rs 4,400 per sq.ft, Vembuli Amman Koil 1st Lane and 2nd Lane at Rs 3,300 per sq.ft each, and Venugopalapuram, T N G O COLONY 7th Street, and T N G O Colony 6th Street at Rs 3,900 per sq.ft each.