Guideline Value for Veeramman Koil Street

Veeramman Koil Street guideline value

The current guideline value of Veeramman Koil Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village under the Periamet SRO and is classified as Residential Class I Type - II.

How the guideline value of Veeramman Koil Street has changed

The guideline value for Veeramman Koil Street has undergone several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in the 2012 revision. However, it then dropped to Rs 2,345 per sq.ft in 2017, before rising again to Rs 3,500 per sq.ft in 2023 and reaching the current value of Rs 3,800 per sq.ft in 2024.

Between these revisions, the changes were notable. From 2007 to 2012, there was a substantial increase of 483%. However, from 2012 to 2017, the value decreased by 33%. The value then rose by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects a 9% increase. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chindadripet

In Chindadripet village, there are 98 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Veeramman Koil Street's 2024 figure above this median.

• Vedariri Street(Maistry): Rs 4,400 per sq.ft (2024)
• Vannara Street(WashermenStreet): Rs 3,300 per sq.ft (2024)
• Venkatesa Gramani Street: Rs 3,800 per sq.ft (2024)
• Ulagappa maistry street: Rs 6,600 per sq.ft (2024)
• Thulukkanam Street: Rs 2,500 per sq.ft (2024)
• Thiyagaraja Stret(Varadarajapuram): Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Veeramman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Veeramman Koil Street?

The Sub Registrar Office covering Veeramman Koil Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Chindadripet. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Veeramman Koil Street?

The current guideline value of Veeramman Koil Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 533% over the years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which Sub Registrar Office handles registrations for Veeramman Koil Street?

The Periamet Sub Registrar Office handles registrations for Veeramman Koil Street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value in Chindadripet?

The median guideline value in Chindadripet is Rs 3,300 per sq.ft, with Veeramman Koil Street's current value above this median.