Guideline Value for R.C.VELLIMEDU 2st STREET

R.C.VELLIMEDU 2st STREET guideline value

The current guideline value of R.C.VELLIMEDU 2st STREET is Rs 101 per sq.ft, effective from 1 July 2024. This street is located in the village of Cheyyur under the Cheyyur SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of R.C.VELLIMEDU 2st STREET has changed

The guideline value for R.C.VELLIMEDU 2st STREET has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 101 per sq.ft, which is an increase of 1% from the 2023 revision of Rs 100 per sq.ft. Prior to that, in 2017, the value was significantly lower at Rs 50 per sq.ft, marking a 100% increase from 2017 to 2023. The register has no figures for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 102%. This consistent rise reflects changes in the valuation process, ensuring that the guideline value remains updated with the current market conditions.

Guideline values in Cheyyur - A

In the village of Cheyyur - A, there are 64 streets under the Cheyyur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 500 per sq.ft, with a median value of Rs 101 per sq.ft. The guideline value for R.C.VELLIMEDU 2st STREET is equal to this median.

• R.C.VELLIMEDU 1st STREET: Rs 101 per sq.ft (2024)
• Ramalingaswamy Koil Street: Rs 101 per sq.ft (2024)
• Puthur Colony: Rs 100 per sq.ft (2024)
• Puthiyamman Koil: Rs 100 per sq.ft (2024)
• School Street: Rs 200 per sq.ft (2024)
• Selvavinayagar Kovil Street: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in R.C.VELLIMEDU 2st STREET

For a 1,000 sq.ft plot at the current rate of Rs 101 per sq.ft, the guideline value would be Rs 1,01,000. The stamp duty at 7% would amount to Rs 7,070, and the registration fee at 2% would be Rs 2,020, together totaling Rs 9,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.C.VELLIMEDU 2st STREET?

The Sub Registrar Office that covers R.C.VELLIMEDU 2st STREET is the Cheyyur Sub Registrar Office, located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Cheyyur - A

The guideline value serves as a benchmark for property transactions in Cheyyur - A. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official valuation rather than the sale price alone.

This system helps maintain transparency in property transactions and ensures that the revenue generated from registration is consistent with the established values for different areas, including R.C.VELLIMEDU 2st STREET.

Frequently asked questions

What is the current guideline value of R.C.VELLIMEDU 2st STREET?

The current guideline value of R.C.VELLIMEDU 2st STREET is Rs 101 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 102% to the current rate of Rs 101 per sq.ft in 2024. The 2023 revision was Rs 100 per sq.ft, showing a 1% increase from the previous year.

What is the land classification for R.C.VELLIMEDU 2st STREET?

R.C.VELLIMEDU 2st STREET is classified as Residential Class IV Type - I, which indicates its intended use for residential purposes.

Where can I find the registration office for R.C.VELLIMEDU 2st STREET?

The registration office for R.C.VELLIMEDU 2st STREET is the Cheyyur Sub Registrar Office, located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone.

How is stamp duty calculated for properties in Cheyyur - A?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the fees are reflective of the official valuation of the property.