Guideline Value for SRI VELAN NAGAR

Sri Velan Nagar guideline value

The current guideline value of Sri Velan Nagar is Rs 100 per sq.ft, effective from the 2024 revision. This area is located in Mukkarambakkam village under the Arani_Tiruvallur SRO and is classified as Residential Class IV Type - I.

How the guideline value of Sri Velan Nagar has changed

The guideline value for Sri Velan Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 67 per sq.ft, which increased to Rs 100 per sq.ft in the 2023 revision. The 2024 revision also maintains this value at Rs 100 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, there has been a 49% increase in the guideline value. The current rate aligns with the median value of Rs 100 per sq.ft for the three streets in Mukkarambakkam under the Arani_Tiruvallur SRO.

Guideline values in Mukkarambakkam

In Mukkarambakkam, there are three streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value of Rs 100 per sq.ft. This places Sri Velan Nagar at the same level as the median value for the area.

• Shakthi Vaanavil Nagar: Rs 100 per sq.ft (2024)
• Anayaa Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Velan Nagar

For a plot of 1,000 sq.ft at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, while the registration fee at 2% would be Rs 2,000, bringing the total to 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 Velan Nagar?

The Sub Registrar Office that covers Sri Velan Nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Mukkarambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs reflect the official value assigned to the property.

When buying or selling property, the guideline value helps in determining the minimum value for which a property can be registered. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Velan Nagar?

The current guideline value of Sri Velan Nagar is Rs 100 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value increased from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in both the 2023 and 2024 revisions, marking a 49% increase overall from 2017 to 2024.

What are the other streets in Mukkarambakkam with the same guideline value?

Other streets in Mukkarambakkam with the same guideline value of Rs 100 per sq.ft for 2024 include Shakthi Vaanavil Nagar and Anayaa Nagar.

Where can I find the Sub Registrar Office for Sri Velan Nagar?

The Sub Registrar Office for Sri Velan Nagar is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101.

How is the stamp duty calculated for properties in Sri Velan Nagar?

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