Guideline Value for Veerasamy Street

Veerasamy Street guideline value

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

How the guideline value of Veerasamy Street has changed

Over the years, the guideline value of Veerasamy Street has undergone several revisions. The 2007 revision set the value at Rs 1,353 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 233% rise. However, it saw a decline to Rs 3,015 per sq.ft in the 2017 revision, a decrease of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, representing a 49% increase, and finally reached Rs 4,900 per sq.ft in the 2024 revision, a 9% increase.

It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayanavaram

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to 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, bringing the total to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Veerasamy Street?

The Sub Registrar Office covering Veerasamy Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). For more information, you can find your SRO.

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 during the registration process. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs incurred during the transfer of property ownership. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Veerasamy Street?

The current guideline value of Veerasamy 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 1,353 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 262% over the years.

What is the land classification for Veerasamy Street?

Veerasamy Street is classified as Residential Class I Type - III under the AnnaNagar SRO.

What are the stamp duty and registration fees for a property in Veerasamy Street?

For a 1,000 sq.ft property, the total guideline value is Rs 49,00,000. The stamp duty at 7% is Rs 3,43,000, and the registration fee at 2% is Rs 98,000, totaling Rs 4,41,000.

Where is the Sub Registrar Office for Veerasamy Street located?

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