Guideline Value for Veeraraghavan Road

Veeraraghavan Road guideline value

The current guideline value of Veeraraghavan Road in Tondaiarpet village, under the Royapuram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Veeraraghavan Road has changed

The guideline value for Veeraraghavan Road has undergone several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this value decreased to Rs 1,340 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. The increase from 2023 to 2024 represents a 10% rise. Overall, from the 2007 revision to the current 2024 figure, there has been an increase of 214%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. Veeraraghavan Road's current guideline value of Rs 2,200 per sq.ft is above this median.

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

Stamp duty and registration fee for property in Veeraraghavan Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would total Rs 44,000. Together, the total fees would be Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veeraraghavan Road?

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

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

The guideline value plays a crucial role in property transactions in Tondaiarpet. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. It ensures that the fees are based on a standardized value, reflecting the market conditions of the area.

During the registration process, the guideline value is referenced to assess the value of the property being transferred. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Veeraraghavan Road?

The current guideline value of Veeraraghavan Road is Rs 2,200 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 2,200 per sq.ft in 2024, with several revisions in between, including a decrease in 2017 and increases in subsequent years.

What is the median guideline value in Tondaiarpet?

The median guideline value in Tondaiarpet is Rs 1,600 per sq.ft, with Veeraraghavan Road's current value being above this median.

What are the stamp duty rates applicable in Tondaiarpet?

The stamp duty rate in Tondaiarpet is 7%, while the registration fee is 2%, calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Veeraraghavan Road located?

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