Guideline Value for Veeraragavan Street

Veeraragavan Street guideline value

The current guideline value of Veeraragavan Street in Peerklankaranai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Veeraragavan Street has changed

The guideline value for Veeraragavan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it to Rs 1,650 per sq.ft. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, there was a significant increase of 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,400 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the guideline value of Veeraragavan Street.

• Velu Nagar 1st Street: Rs 1,100 per sq.ft (2024)
• Velu Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Velu Nagar 3rd Street: Rs 1,100 per sq.ft (2024)
• Velu Nagar 4th Cross Street: Rs 1,100 per sq.ft (2024)
• Velu Nagar 4th Street: Rs 1,100 per sq.ft (2024)
• Velu Nagar 5th Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Veeraragavan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total fees together Rs 1,48,500. 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 detailed calculations.

Which Sub Registrar Office covers Veeraragavan Street?

The Sub Registrar Office that covers Veeraragavan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Peerklankaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Veeraragavan Street?

The current guideline value of Veeraragavan Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Veeraragavan Street?

Veeraragavan Street is classified as Residential Class I Type - II.

What are the other streets in Peerklankaranai with their guideline values?

Other streets in Peerklankaranai include Velu Nagar 1st Street, Velu Nagar 2nd Street, Velu Nagar 3rd Street, Velu Nagar 4th Cross Street, Velu Nagar 4th Street, and Velu Nagar 5th Street, all valued at Rs 1,100 per sq.ft in 2024.

Where is the Sub Registrar Office for Veeraragavan Street located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.