Guideline Value for Veerapandia Kattaboman Street (Vetri Nagar)

Veerapandia Kattaboman Street (Vetri Nagar) guideline value

The current guideline value for Veerapandia Kattaboman Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Veerapandia Kattaboman Street (Vetri Nagar) has changed

The guideline value for Veerapandia Kattaboman Street (Vetri Nagar) has seen several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this figure dropped to Rs 2,010 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 3,000 per sq.ft, and the most recent revision in 2024 set it at Rs 3,301 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 313%. Notably, the revisions for the years 2002 and 2003 do not have figures available for this street in the register.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is equal to the guideline value for Veerapandia Kattaboman Street (Vetri Nagar). Below are some other streets in Peravallur:

• Veerapandiya Kattabomman Street (Bashyam Reddy Colony): Rs 2,700 per sq.ft (2024)
• Veeraraghavan Street (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Varadharajan Street (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Vengal Thottam 1st Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Veerapandia Kattaboman Street (Vetri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, while the registration fee at 2% would be Rs 66,020. Therefore, the total cost for stamp duty and registration would be Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veerapandia Kattaboman Street (Vetri Nagar)?

The Sub Registrar Office that covers Veerapandia Kattaboman Street (Vetri Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the worth of the property in question. It is essential for buyers to be aware of this value to avoid overpaying and for sellers to price their properties competitively.

Frequently asked questions

What is the current guideline value for Veerapandia Kattaboman Street (Vetri Nagar)?

The current guideline value for Veerapandia Kattaboman Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What is the land classification for Veerapandia Kattaboman Street (Vetri Nagar)?

The land classification for Veerapandia Kattaboman Street (Vetri Nagar) is Residential Special Type - II.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current rate would incur a total stamp duty and registration fee of Rs 2,97,090.