Guideline Value for Veerasamy street

Veerasamy street guideline value

The current guideline value of Veerasamy street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, classified as Residential Class III Type - III.

How the guideline value of Veerasamy street has changed

The guideline value of Veerasamy street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it dropped to Rs 2,010 per sq.ft in 2017, before rising again to Rs 3,000 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 175%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Vepery

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

• Veerasamy 3rd street: Rs 3,300 per sq.ft (2024)
• Veerasamy 2nd street: Rs 3,300 per sq.ft (2024)
• Veerasamy 1st street: Rs 3,300 per sq.ft (2024)
• Vathiyar Kandappa Pillai Street: Rs 6,000 per sq.ft (2024)
• Venkatchala Mudali street: Rs 4,800 per sq.ft (2024)
• Venkatesa Mudali street: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Veerasamy street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, bringing the total to Rs 2,97,000. It's important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veerasamy street?

The Sub Registrar Office that covers Veerasamy 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 critical factor in property transactions in Vepery. It serves as the basis for calculating stamp duty and registration fees, ensuring that both buyers and sellers adhere to the legal requirements during the registration process.

When purchasing property, the guideline value helps establish a fair value for the transaction, which is essential for the registration of the property. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can impact the overall cost of the property transaction.

Frequently asked questions

What is the current guideline value of Veerasamy street?

The current guideline value of Veerasamy street is Rs 3,300 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 3,300 per sq.ft in 2024, representing an overall increase of 175% over this period.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Veerasamy street located?

The Periamet Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003, which covers Veerasamy street.

What is the land classification of Veerasamy street?

Veerasamy street is classified as Residential Class III Type - III under the Periamet SRO.