Guideline Value for Veeraragavan Street

Veeraragavan Street guideline value

The current guideline value of Veeraragavan Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Thiruvallur village and falls under the Tiruvallur Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Veeraragavan Street has changed

The guideline value for Veeraragavan Street has seen several revisions over the years. In 2007, the value was Rs 320 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 213%. However, it dropped to Rs 670 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose sharply to Rs 1,000 per sq.ft in 2023, before reaching the current rate of Rs 1,100 per sq.ft in 2024, which is a 10% increase.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 244%.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft. The median value is Rs 1,100 per sq.ft, which matches the current value of Veeraragavan Street.

• Veerapandiyakottabomman Street: Rs 1,100 per sq.ft (2024)
• Veerannan Street: Rs 2,200 per sq.ft (2024)
• Vb Akshaya Nagar: Rs 1,650 per sq.ft (2024)
• Vembuliamman Koil Street: Rs 1,650 per sq.ft (2024)
• Vengatachalapathy Street indira nagar: Rs 1,100 per sq.ft (2024)
• Vengu Street: Rs 1,650 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the 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 Veeraragavan Street?

The Sub Registrar Office that covers Veeraragavan Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the correct amounts are collected by the authorities.

Frequently asked questions

What is the current guideline value of Veeraragavan Street?

The current guideline value of Veeraragavan Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 320 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 244% over the years.

What is the land classification of Veeraragavan Street?

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

What are the stamp duty rates applicable?

The stamp duty rate for property transactions in Veeraragavan Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Veeraragavan Street?

The Sub Registrar Office for Veeraragavan Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.