Guideline Value for Veeramani Street / Thriuvalluvar Nagar

Veeramani Street / Thriuvalluvar Nagar guideline value

The current guideline value of Veeramani Street / Thriuvalluvar Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of Veeramani Street / Thriuvalluvar Nagar has changed

The guideline value for Veeramani Street / Thriuvalluvar Nagar has seen significant changes over the years. In 2002, the value was Rs 230 per sq.ft, which increased to Rs 260 per sq.ft in 2003, marking a 13% rise. By 2007, the value reached Rs 360 per sq.ft, showing a 38% increase from the previous revision. However, there are no figures available for the years 2012 and 2017.

In 2023, the guideline value was Rs 2,250 per sq.ft, which reflects a substantial increase of 525% from the 2007 figure. The latest revision in 2024 has further increased the value to Rs 2,475 per sq.ft, a 10% rise from 2023. Overall, from 2002 to 2024, the guideline value has increased by 976%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, placing Veeramani Street / Thriuvalluvar Nagar above this median.

• Veeramamunivar Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Veerapandya Kattabooman Street / Muthumazhi Nagar: Rs 2,475 per sq.ft (2024)
• Veeraragavan Street /Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Vedhagiri Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Vedagiri Mudaliyar Street: Rs 1,980 per sq.ft (2024)
• Vellangani Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Veeramani Street / Thriuvalluvar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value would be Rs 24,75,000. The stamp duty at 7% would amount to Rs 1,73,250, and the registration fee at 2% would be Rs 49,500. Together, the total fees would be Rs 2,22,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veeramani Street / Thriuvalluvar Nagar?

The Sub Registrar Office that covers Veeramani Street / Thriuvalluvar Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pammal

The guideline value plays a crucial role in property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than subjective market assessments.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Veeramani Street / Thriuvalluvar Nagar?

The current guideline value of Veeramani Street / Thriuvalluvar Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 230 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, marking an overall increase of 976% over this period.

Which Sub Registrar Office covers this street?

The Pammal Sub Registrar Office covers Veeramani Street / Thriuvalluvar Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty and registration fees for property in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,22,750.

Are there other streets in Pammal with similar guideline values?

Yes, there are several other streets in Pammal with guideline values similar to Veeramani Street / Thriuvalluvar Nagar, including Veeramamunivar Street and Veerapandya Kattabooman Street, both at Rs 2,475 per sq.ft.