Guideline Value for Veerasamy 2nd Lane

Veerasamy 2nd Lane guideline value

The current guideline value of Veerasamy 2nd Lane is Rs 4,400 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 II Type - I.

How the guideline value of Veerasamy 2nd Lane has changed

Over the years, the guideline value of Veerasamy 2nd Lane has seen several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which then dropped to Rs 2,680 per sq.ft in 2017. The 2023 revision increased the value to Rs 4,000 per sq.ft, and the latest 2024 revision has raised it to Rs 4,400 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The 2023 to 2024 revision reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ayanavaram

Ayanavaram has 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft as of 2024. The median value for these streets is Rs 4,900 per sq.ft, placing Veerasamy 2nd Lane's guideline value below this median.

• Veerasamy 2nd Street: Rs 4,900 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 Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 further calculations.

Which Sub Registrar Office covers Veerasamy 2nd Lane?

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

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

When buying or selling property in Ayanavaram, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the Registration Department and is used as a benchmark for the transaction value of properties in the area.

At the time of registration, the stamp duty is 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, reflecting the value of real estate in the region.

Frequently asked questions

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

The current guideline value of Veerasamy 2nd Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Veerasamy 2nd Lane?

Veerasamy 2nd Lane is classified as Residential Class II Type - I, indicating its use for residential purposes.

What are the stamp duty and registration fees for a property in Veerasamy 2nd Lane?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.

Which office handles registrations for Veerasamy 2nd Lane?

The AnnaNagar Sub Registrar Office handles registrations for Veerasamy 2nd Lane, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.