Guideline Value for Veerapandian st ( Ward No.22 )

Veerapandian st ( Ward No.22 ) guideline value

The current guideline value for Veerapandian st ( Ward No.22 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Veerapandian st ( Ward No.22 ) has changed

The guideline value for Veerapandian st has undergone several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft. This figure saw a decrease in 2017 to Rs 804 per sq.ft, marking a drop of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 has brought the guideline value to Rs 1,300 per sq.ft, which is an 8% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 figure to the 2024 figure, there has been an 8% increase in the guideline value.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing the 2024 guideline value of Veerapandian st below that median.

• Veerapandian Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Veerapandian St, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Veerapathiran Street (Ward-23): Rs 1,300 per sq.ft (2024)
• Veerasami Nagar: Rs 1,300 per sq.ft (2024)
• Veerasamy Nagar (Ward-03): Rs 1,300 per sq.ft (2024)
• Vedhagiri Rao Avenue: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Veerapandian st ( Ward No.22 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty, charged at 7%, would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total cost to Rs 1,17,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veerapandian st ( Ward No.22 )?

The Sub Registrar Office that covers Veerapandian st ( Ward No.22 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Madhavaram. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs incurred during the registration process.

It is important for buyers and sellers to be aware of the current guideline value, as it directly influences the overall cost of the transaction. Understanding the guideline value ensures that all parties involved are informed about the financial obligations tied to property transactions.

Frequently asked questions

What is the current guideline value of Veerapandian st ( Ward No.22 )?

The current guideline value of Veerapandian st ( Ward No.22 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Veerapandian st ( Ward No.22 )?

Veerapandian st ( Ward No.22 ) is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in Veerapandian st ( Ward No.22 )?

The stamp duty is charged at 7% and the registration fee at 2%. For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,17,000.

Which Sub Registrar Office covers Veerapandian st ( Ward No.22 )?

The Madhavaram Sub Registrar Office covers Veerapandian st ( Ward No.22 ), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.