Guideline Value for Veeraraghavan Lane

Veeraraghavan Lane guideline value

The current guideline value of Veeraraghavan Lane is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Veeraraghavan Lane has changed

The guideline value for Veeraraghavan Lane has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 700 per sq.ft. This value saw a significant increase to Rs 1,500 per sq.ft in the 2012 revision, remaining unchanged until the 2023 revision, where it stayed at Rs 1,500 per sq.ft. The most recent revision in 2024 has raised the guideline value to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 129%. Notably, there are no recorded figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is equal to the current value of Veeraraghavan Lane.

• Veeraraghavan Road: Rs 2,200 per sq.ft (2024)
• Veerakutty Street: Rs 1,600 per sq.ft (2024)
• Vathiyar eagappan Street: Rs 2,200 per sq.ft (2024)
• Vathiyar eagappan Cross Street: Rs 2,200 per sq.ft (2024)
• Velayutha Pandi Lane: Rs 2,200 per sq.ft (2024)
• Velayutha Pandi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Veeraraghavan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty is charged at 7%, which would be Rs 1,12,000, and the registration fee at 2% amounts to Rs 32,000. Therefore, the total cost for stamp duty and registration fees together would be Rs 1,44,000. 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 further assistance.

Which Sub Registrar Office covers Veeraraghavan Lane?

The Sub Registrar Office that covers Veeraraghavan Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of properties in Tondaiarpet. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

Frequently asked questions

What is the current guideline value of Veeraraghavan Lane?

The current guideline value of Veeraraghavan Lane is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, which represents a 129% increase over the years.

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

Other streets in Tondaiarpet include Veeraraghavan Road at Rs 2,200 per sq.ft, Veerakutty Street at Rs 1,600 per sq.ft, and several others ranging from Rs 2,200 to Rs 1,600 per sq.ft.

What fees are associated with buying property in Veeraraghavan Lane?

When buying property in Veeraraghavan Lane, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,44,000.

Where can I find the Sub Registrar Office for Veeraraghavan Lane?

The Sub Registrar Office for Veeraraghavan Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.