Guideline Value for Veerannan Street

Veerannan Street guideline value

The current guideline value of Veerannan Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruvallur village, under the Tiruvallur Joint 1 SRO, and is classified as Residential Special Type - I.

How the guideline value of Veerannan Street has changed

The guideline value for Veerannan Street has undergone several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 400% rise. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The value then saw a substantial increase to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in 2024, reflecting a 10% change.

In summary, the guideline value has risen from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 450%. The revisions for the years 2002 and 2003 have no figures recorded for this street.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft, with a median value of Rs 1,100 per sq.ft. Veerannan Street's 2024 guideline value is above this median.

• Veerapandiyakottabomman Street: Rs 1,100 per sq.ft (2024)
• Veeraragavan Street: Rs 1,100 per sq.ft (2024)
• Vb Akshaya Nagar: Rs 1,650 per sq.ft (2024)
• Vembuliamman Koil Street: Rs 1,650 per sq.ft (2024)
• Varadharaja Nagar: Rs 680 per sq.ft (2024)
• Vengatachalapathy Street indira nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Veerannan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veerannan Street?

The Sub Registrar Office that covers Veerannan Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvallur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is in compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for calculating these fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Veerannan Street?

The current guideline value of Veerannan Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, with various revisions in between, including a notable increase from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023.

What is the land classification for Veerannan Street?

Veerannan Street is classified as Residential Special Type - I, indicating its designated use for residential purposes.

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

The stamp duty for properties on Veerannan Street is calculated at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,98,000.

Which Sub Registrar Office manages the registration for Veerannan Street?

The registration for Veerannan Street is managed by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.