Guideline Value for Veeraraghavan Street (Big Street)

Veeraraghavan Street (Big Street) guideline value

The current guideline value of Veeraraghavan Street (Big Street) is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Veeraraghavan Street (Big Street) has changed

The guideline value of Veeraraghavan Street (Big Street) has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 2,760 per sq.ft. This figure significantly increased to Rs 10,000 per sq.ft in both the 2012 and 2023 revisions, showing no change during that period. However, from 2023 to 2024, the guideline value increased by 10% to reach the current rate of Rs 11,000 per sq.ft.

Overall, from 2007 to 2024, the guideline value has increased by 299%. The register does not contain figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft, with a median value of Rs 6,600 per sq.ft. Veeraraghavan Street (Big Street) has a guideline value above this median, reflecting its commercial classification.

• Veera Perumal Street: Rs 6,600 per sq.ft (2024)
• Veeranpuram Street (a) Veeran Parachery: Rs 2,700 per sq.ft (2024)
• Vasudevapuram Part: Rs 7,700 per sq.ft (2024)
• Venkatachala Chetty Street: Rs 6,600 per sq.ft (2024)
• Venkatachala Mudali Street: Rs 6,600 per sq.ft (2024)
• Venkatachala Naicken 1st Lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Veeraraghavan Street (Big Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, totaling Rs 9,90,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veeraraghavan Street (Big Street)?

The Sub Registrar Office that covers Veeraraghavan Street (Big Street) is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

When buying or selling property in Triplicane, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the correct amounts are paid based on the property's value.

The guideline value is set by the Registration Department and is revised periodically. Buyers and sellers should be aware of these values to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Veeraraghavan Street (Big Street)?

The current guideline value of Veeraraghavan Street (Big Street) is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,760 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, marking a total increase of 299% over the years.

What is the land classification for Veeraraghavan Street (Big Street)?

Veeraraghavan Street (Big Street) is classified as Commercial Class I Type - II, which influences its guideline value and potential uses.

Where is the Sub Registrar Office for Veeraraghavan Street (Big Street)?

The Sub Registrar Office for Veeraraghavan Street (Big Street) is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How are stamp duty and registration fees calculated in Triplicane?

Stamp duty and registration fees in Triplicane are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,10,00,000, the total fees would amount to Rs 9,90,000.