Guideline Value for Veerasamy 2nd Street

Veerasamy 2nd Street guideline value

The current guideline value of Veerasamy 2nd Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village, under the AnnaNagar SRO, and is classified as Residential Class I Type - III.

How the guideline value of Veerasamy 2nd Street has changed

The guideline value for Veerasamy 2nd Street has seen several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, it then decreased to Rs 3,015 per sq.ft in 2017. The 2023 revision set the value at Rs 4,500 per sq.ft, and the most recent revision in 2024 increased it to Rs 4,900 per sq.ft, marking a 9% rise from the previous year.

Between the revisions, the changes are notable. From 2017 to 2023, there was a 49% increase, while from 2012 to 2017, the value decreased by 33%. The jump from 2007 to 2012 was a significant 275%. Overall, from 2007 to 2024, the guideline value has increased by 308%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO with a 2024 guideline value ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is equal to the current value of Veerasamy 2nd Street.

• Veerasamy 2nd Lane: Rs 4,400 per sq.ft (2024)
• Veerasamy 3rd Street: Rs 4,900 per sq.ft (2024)
• Veerasamy Ist Street: Rs 4,900 per sq.ft (2024)
• Veerasamy Street: Rs 4,900 per sq.ft (2024)
• Velankadu Pattai: Rs 4,400 per sq.ft (2024)
• Vellala 2nd Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Veerasamy 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, making the total Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Veerasamy 2nd Street?

The Sub Registrar Office that covers Veerasamy 2nd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Ayanavaram. It serves as the base value for calculating stamp duty and registration fees, which are mandatory during property transactions.

Frequently asked questions

What is the current guideline value of Veerasamy 2nd Street?

The current guideline value of Veerasamy 2nd Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 308% over the years.

What is the land classification for Veerasamy 2nd Street?

Veerasamy 2nd Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is 7%, which is applied to the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Veerasamy 2nd Street located?

The Sub Registrar Office for Veerasamy 2nd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.