Guideline Value for veeraraghavan street

Veeraraghavan Street guideline value

The current guideline value of Veeraraghavan Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO and is classified as Residential Class III Type - I.

How the guideline value of Veeraraghavan Street has changed

The guideline value for Veeraraghavan Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 601 per sq.ft. This increased to Rs 663 per sq.ft in 2003, marking a change of +10%. The value then rose significantly to Rs 1,200 per sq.ft in 2007, reflecting an increase of +81%. Following this, the guideline value jumped to Rs 3,600 per sq.ft in 2012, an increase of +200%. However, it dropped to Rs 2,412 per sq.ft in 2017, a decrease of -33%. The value then increased to Rs 3,600 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, which is an increase of +8%.

There are no recorded figures for the years not mentioned in the register for this street.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, placing Veeraraghavan Street's 2024 figure below that median.

• Veerabadra Achari Street: Rs 7,100 per sq.ft (2024)
• Veeerasamy pillai street: Rs 7,100 per sq.ft (2024)
• Velayudha Achary street: Rs 3,900 per sq.ft (2024)
• Velayudha chetty 1st lane: Rs 3,900 per sq.ft (2024)
• Velayudha chetty 2nd lane: Rs 3,900 per sq.ft (2024)
• Velayudha chetty 3rd lane: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Veeraraghavan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost to Rs 3,51,000. 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 our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Veeraraghavan Street?

The Sub Registrar Office that covers Veeraraghavan Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Egmore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process. This value is set by the government and is periodically revised based on various factors.

When you register a property, the guideline value will be used to calculate the applicable fees, ensuring that both buyers and sellers are aware of their financial obligations. It is essential to consider the guideline value when planning any property transactions in the area.

Frequently asked questions

What is the current guideline value of Veeraraghavan Street?

The current guideline value of Veeraraghavan Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 601 per sq.ft in 2002 to the current rate of Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +549% since 2002.

What is the land classification for Veeraraghavan Street?

Veeraraghavan Street is classified as Residential Class III Type - I, which indicates its designation for residential use under the local regulations.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 3,51,000 based on the current guideline value.

Where is the Sub Registrar Office located for Veeraraghavan Street?

The Periamet Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003, and it handles registrations for properties in Veeraraghavan Street.