Guideline Value for Veeranpuram Street (a) Veeran Parachery

Veeranpuram Street (a) Veeran Parachery guideline value

The current guideline value for Veeranpuram Street (a) Veeran Parachery is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification is Residential Special Type - V.

How the guideline value of Veeranpuram Street (a) Veeran Parachery has changed

The guideline value for Veeranpuram Street (a) Veeran Parachery has undergone several revisions over the years. The 2007 revision set the value at Rs 710 per sq.ft, which saw a significant increase to Rs 2,500 per sq.ft in the 2012 revision. This figure remained unchanged until the 2023 revision, where it was again Rs 2,500 per sq.ft. The most recent 2024 revision has increased the guideline value to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 280%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2017 for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value for Veeranpuram Street (a) Veeran Parachery is below this median.

• Veera Perumal Street: Rs 6,600 per sq.ft (2024)
• Veeraraghavan Street (Big Street): Rs 11,000 per sq.ft (2024)
• Vasudevapuram Part: Rs 7,700 per sq.ft (2024)
• Venkatachala Chetty Street: Rs 6,600 per sq.ft (2024)
• Venkatachala Mudali Street: Rs 6,600 per sq.ft (2024)
• Venkatachala Naicken 1st Lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Veeranpuram Street (a) Veeran Parachery

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value is Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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 information.

Which Sub Registrar Office covers Veeranpuram Street (a) Veeran Parachery?

The Sub Registrar Office that covers Veeranpuram Street (a) Veeran Parachery is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware that the guideline value is considered by the registration authorities when finalizing these costs.

When a property is registered, the stamp duty is levied based on the guideline value or the actual sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property according to the established guidelines.

Frequently asked questions

What is the current guideline value of Veeranpuram Street (a) Veeran Parachery?

The current guideline value of Veeranpuram Street (a) Veeran Parachery is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 710 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 280% over the years.

What is the land classification for Veeranpuram Street (a) Veeran Parachery?

The land classification for Veeranpuram Street (a) Veeran Parachery is Residential Special Type - V.

Which Sub Registrar Office covers this street?

The Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, covers Veeranpuram Street (a) Veeran Parachery.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 27,00,000, resulting in a stamp duty of Rs 1,89,000.