Guideline Value for Veerapatran Street

Veerapatran Street guideline value

The current guideline value of Veerapatran Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Veerapatran Street has changed

Over the years, the guideline value of Veerapatran Street has seen several revisions. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012, marking a 360% rise. However, the value decreased to Rs 1,541 per sq.ft in 2017, a decline of 33%. The subsequent revision in 2023 brought the value up to Rs 2,300 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,530 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for Veerapatran Street. Overall, from 2007 to 2024, the guideline value has increased by 406%.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, positioning Veerapatran Street's 2024 guideline value above this median.

• Velacherry Road: Rs 6,600 per sq.ft (2024)
• Vellalar Street: Rs 880 per sq.ft (2024)
• Vedan Kannappar Street: Rs 1,650 per sq.ft (2024)
• Vaniyan Kutti Street: Rs 1,650 per sq.ft (2024)
• Vaigai Street: Rs 2,530 per sq.ft (2024)
• U.V.Swaminathan Iyer Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Veerapatran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total fees together to Rs 2,27,700. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veerapatran Street?

The Sub Registrar Office that covers Veerapatran Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Irumpuliyur. It determines the minimum value at which a property can be registered, ensuring that the transaction is officially recorded at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, influencing the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Veerapatran Street?

The current guideline value of Veerapatran Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, marking an overall increase of 406%.

What are the stamp duty and registration fees for properties in Veerapatran Street?

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

Which Sub Registrar Office handles registrations for Veerapatran Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Veerapatran Street, located at No.26, mes Road, East Tambaram, Chennai-600059.

What is the land classification for Veerapatran Street?

The land classification for Veerapatran Street is Residential Special Type - I, indicating its designated use for residential purposes.