Guideline Value for Veeraranga Street

Veeraranga Street guideline value

The current guideline value of Veeraranga Street in Konnur village, under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Veeraranga Street has changed

The guideline value for Veeraranga Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 378 per sq.ft. It increased to Rs 410 per sq.ft in 2003, marking an 8% rise. The value then experienced a significant increase of 95% to reach Rs 800 per sq.ft in 2007. In 2012, the value was revised to Rs 3,500 per sq.ft, reflecting a substantial increase of 338%. However, it decreased by 33% to Rs 2,345 per sq.ft in 2017. The 2023 revision set the value at Rs 3,500 per sq.ft, which was a 49% increase from the previous revision. Finally, the current 2024 revision sees the guideline value at Rs 3,800 per sq.ft, a 9% increase from 2023.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 represents an increase of 905% in the guideline value for Veeraranga Street.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO carrying a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value is Rs 3,800 per sq.ft, which is equal to the current guideline value for Veeraranga Street.

• Vellalar Street: Rs 5,500 per sq.ft (2024)
• Vellerithangal Lane: Rs 3,800 per sq.ft (2024)
• Velumani Street: Rs 3,800 per sq.ft (2024)
• Valluvar Nagar (Kattuvan Kuttai): Rs 3,800 per sq.ft (2024)
• Venture Garden: Rs 3,500 per sq.ft (2024)
• Vetriselvi Shri Ranga Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Veeraranga Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty, charged at 7%, would amount to Rs 2,66,000, while the registration fee at 2% would be Rs 76,000. Together, the total cost for stamp duty and registration fees would be Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veeraranga Street?

The Sub Registrar Office that covers Veeraranga Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for buying or selling property in Konnur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When you purchase a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Veeraranga Street?

The current guideline value of Veeraranga Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 378 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, which represents an overall increase of 905%.

What are the stamp duty and registration fees for a property on Veeraranga Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,00,000. The stamp duty at 7% is Rs 2,66,000, and the registration fee at 2% is Rs 76,000, totaling Rs 3,42,000 for both fees.

Which Sub Registrar Office covers Veeraranga Street?

The Konnur Sub Registrar Office covers Veeraranga Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification for Veeraranga Street?

Veeraranga Street is classified as Residential Class II Type - I, which defines its usage and regulatory framework for property transactions.