Guideline Value for Veerasamy 3rd Street

Veerasamy 3rd Street guideline value

The current guideline value of Veerasamy 3rd 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 3rd Street has changed

The guideline value for Veerasamy 3rd Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012. However, the value dropped to Rs 3,015 per sq.ft in 2017. The 2023 revision raised it to Rs 4,500 per sq.ft, and the most recent 2024 revision set it at Rs 4,900 per sq.ft. The register has no figure for this street in 2002 and 2003.

From 2007 to 2012, there was a significant increase of 275%. However, this was followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023 and increased by 9% from 2023 to 2024. Overall, the guideline value has increased by 308% from 2007 to 2024.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO that carry 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 2024 figure for Veerasamy 3rd Street.

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

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the guideline value is Rs 49,00,000. The stamp duty at 7% amounts to Rs 3,43,000, and the registration fee at 2% is Rs 98,000, bringing the total to Rs 4,41,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Veerasamy 3rd Street?

The Sub Registrar Office that covers Veerasamy 3rd 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 crucial during the registration process for property transactions in Ayanavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the necessary fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Veerasamy 3rd Street?

The current guideline value of Veerasamy 3rd 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 3rd Street?

Veerasamy 3rd Street is classified as Residential Class I Type - III.

What is the stamp duty for properties in Veerasamy 3rd Street?

The stamp duty for properties in Veerasamy 3rd Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Veerasamy 3rd Street?

The Sub Registrar Office for Veerasamy 3rd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.