Guideline Value for Veerappan Street

Veerappan Street guideline value

The current guideline value of Veerappan Street is Rs 2,640 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village under the Padappai SRO and is classified as Residential Class I Type - I.

How the guideline value of Veerappan Street has changed

The guideline value for Veerappan Street has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 2,400 per sq.ft in 2012, marking a 700% rise. However, it then decreased to Rs 1,608 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,400 per sq.ft in 2023, and most recently, it increased to Rs 2,640 per sq.ft in 2024, reflecting a 10% increase.

There are no registered figures for Veerappan Street for the years 2002 and 2003. The overall change from the 2007 figure to the current 2024 figure is an increase of 780%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. Veerappan Street's 2024 figure is above this median.

• Veeralaxmi Nagar: Rs 2,970 per sq.ft (2024)
• Vasantham Nagar: Rs 2,310 per sq.ft (2024)
• Vasantham Avenue: Rs 2,310 per sq.ft (2024)
• Varun Avenue: Rs 2,310 per sq.ft (2024)
• Varadhan Street: Rs 2,310 per sq.ft (2024)
• Varadha Nagar: Rs 3,120 per sq.ft (2024)

Stamp duty and registration fee for property in Veerappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value would be Rs 26,40,000. The stamp duty at 7% would be Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, bringing the total cost for these fees to Rs 2,37,600. 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 Veerappan Street?

The Sub Registrar Office that covers Veerappan Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Perungalathur. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Veerappan Street?

The current guideline value of Veerappan Street is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, an increase of 780%. It has seen various revisions, including a decrease in 2017.

What is the median guideline value in Perungalathur?

The median guideline value in Perungalathur is Rs 2,310 per sq.ft for the year 2024. Veerappan Street's value is above this median.

What are the stamp duty and registration fees for property in Veerappan Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 26,40,000. The stamp duty would be Rs 1,84,800, and the registration fee would be Rs 52,800, totaling Rs 2,37,600.

Which office handles registrations for Veerappan Street?

The Padappai Sub Registrar Office handles registrations for Veerappan Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.