Guideline Value for Veerasidhi Vinayaga Koil Street

Veerasidhi Vinayaga Koil Street guideline value

The current guideline value of Veerasidhi Vinayaga Koil Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Veerasidhi Vinayaga Koil Street has changed

Over the years, the guideline value of Veerasidhi Vinayaga Koil Street has seen several revisions. The 2007 revision set the value at Rs 500 per sq.ft, which then increased significantly to Rs 2,200 per sq.ft in 2012, marking a rise of 340%. However, this value dropped to Rs 1,474 per sq.ft in 2017, a decrease of 33%. Following this, the 2023 revision set the value at Rs 2,200 per sq.ft, which increased to Rs 2,420 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has risen by 384%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Nemilicherry

In Nemilicherry village, there are 172 streets under the Pallavaram SRO that have a guideline value for 2024, ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,160 per sq.ft, placing Veerasidhi Vinayaga Koil Street above this median.

• Vempuliamman Nagar: Rs 2,200 per sq.ft (2024)
• Vanchinathan Street: Rs 2,160 per sq.ft (2024)
• Valluvar High Road: Rs 2,200 per sq.ft (2024)
• Vigneshwara Nagar: Rs 2,200 per sq.ft (2024)
• Tholkappiyam Street: Rs 2,160 per sq.ft (2024)
• Visweswaran Back Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Veerasidhi Vinayaga Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total fees to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veerasidhi Vinayaga Koil Street?

The Sub Registrar Office that covers Veerasidhi Vinayaga Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Nemilicherry, the guideline value is a crucial factor in determining the official value of the property. This value is used to calculate the stamp duty and registration fees that must be paid during the registration process.

It is essential for buyers and sellers to be aware of the guideline value as it ensures compliance with local regulations and helps in the accurate documentation of property transactions.

Frequently asked questions

What is the current guideline value of Veerasidhi Vinayaga Koil Street?

The current guideline value of Veerasidhi Vinayaga Koil Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 500 per sq.ft in 2007 to Rs 2,420 per sq.ft in 2024, marking an overall increase of 384%.

What is the registration office for Veerasidhi Vinayaga Koil Street?

The registration office for Veerasidhi Vinayaga Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Nemilicherry?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,69,400.

What are the other streets in Nemilicherry with guideline values?

Other streets in Nemilicherry include Vempuliamman Nagar, Vanchinathan Street, Valluvar High Road, Vigneshwara Nagar, Tholkappiyam Street, and Visweswaran Back Street, with guideline values ranging from Rs 2,160 to Rs 2,200 per sq.ft in 2024.