Guideline Value for SRI VEL NAGAR

Sri Vel Nagar guideline value

The current guideline value of Sri Vel Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under the Ponneri Sub Registrar Office and is classified as Residential Class II Type - I.

How the guideline value of Sri Vel Nagar has changed

Since the 2017 revision, the guideline value for Sri Vel Nagar has increased by 49%. The 2017 revision set the value at Rs 67 per sq.ft, while the 2023 revision maintained this value at Rs 100 per sq.ft. The 2024 revision also holds the guideline value at Rs 100 per sq.ft, indicating no change from the previous year.

For the years prior to 2017, the register has no figures for the 2012, 2007, 2003, and 2002 revisions. Therefore, the only revisions with recorded values are from 2017, 2023, and 2024.

Guideline values in Vellore

Currently, there are no specific village figures available for Vellore. Sri Vel Nagar is part of the Ponneri SRO, which does not list any other streets with guideline values.

Stamp duty and registration fee for property in Sri Vel Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Vel Nagar?

The Sub Registrar Office that covers Sri Vel Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Vellore. It serves as a benchmark for determining the stamp duty and registration fees that must be paid by the buyer during the registration of the property.

When buying or selling property, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Vel Nagar?

The current guideline value of Sri Vel Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased by 49% from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2023 and remained the same in 2024.

What is the land classification of Sri Vel Nagar?

Sri Vel Nagar is classified as Residential Class II Type - I.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Sri Vel Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 1,00,000 would incur a stamp duty of Rs 7,000 at 7%.