Guideline Value for Viramamunivar street

Viramamunivar street guideline value

The current guideline value of Viramamunivar street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Viramamunivar street has changed

The guideline value for Viramamunivar street has seen several revisions over the years. In 2012, the guideline value was Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision when it decreased to Rs 670 per sq.ft. The value then increased significantly to Rs 1,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 1,100 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it experienced a substantial increase of 49%. The 2023 to 2024 revision reflects a 10% increase, resulting in an overall change of +10% from 2012 to 2024.

Guideline values in Peerklankaranai

In Peerklankaranai village, there are 322 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Viramamunivar street's 2024 figure below this median.

• Vinayagar Koil Street: Rs 1,650 per sq.ft (2024)
• Vivekanandhar Street: Rs 1,650 per sq.ft (2024)
• Vimal Avenue: Rs 1,650 per sq.ft (2024)
• V.O.C. Street: Rs 1,650 per sq.ft (2024)
• V.O.C. Street 1st cross street: Rs 1,320 per sq.ft (2024)
• V.O.C. Street 2st cross street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Viramamunivar street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty, calculated at 7%, would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Viramamunivar street?

The Sub Registrar Office that covers Viramamunivar street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value plays a crucial role in the registration process of property transactions in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

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 applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Viramamunivar street?

The current guideline value of Viramamunivar street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Viramamunivar street?

Viramamunivar street is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 99,000.

Where is the Sub Registrar Office located for Viramamunivar street?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.