Guideline Value for Veerasamy 2nd street

Veerasamy 2nd street guideline value

The current guideline value of Veerasamy 2nd street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Residential Class III 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 to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 3,000 per sq.ft, and the most recent revision in 2024 set it at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 175%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO, with guideline values ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 4,800 per sq.ft, indicating that the 2024 figure for Veerasamy 2nd street is below this median.

• Veerasamy 1st street: Rs 3,300 per sq.ft (2024)
• Veerasamy 3rd street: Rs 3,300 per sq.ft (2024)
• Veerasamy street: Rs 3,300 per sq.ft (2024)
• Vathiyar Kandappa Pillai Street: Rs 6,000 per sq.ft (2024)
• Varachithi Vinayagar Koil street: Rs 6,000 per sq.ft (2024)
• Varachithi Vinayagar Koil lane: Rs 6,000 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Veerasamy 2nd street?

The Sub Registrar Office that covers Veerasamy 2nd street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property. The value is set by the government and is regularly revised to reflect changes in the real estate market.

When a property is registered, the guideline value is used to calculate the applicable fees. Buyers and sellers should be aware of the current guideline value to ensure they comply with the legal requirements during the transaction process.

Frequently asked questions

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

The current guideline value of Veerasamy 2nd street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed as follows: Rs 1,200 per sq.ft in 2007, Rs 3,000 per sq.ft in 2012, Rs 2,010 per sq.ft in 2017, Rs 3,000 per sq.ft in 2023, and currently Rs 3,300 per sq.ft in 2024.

What is the median guideline value of streets in Vepery?

The median guideline value of streets in Vepery is Rs 4,800 per sq.ft, indicating that Veerasamy 2nd street's current value is below this median.

What are the stamp duty and registration fees for properties in Veerasamy 2nd street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Where can I find the Sub Registrar Office for Veerasamy 2nd street?

The Sub Registrar Office for Veerasamy 2nd street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.