Guideline Value for Sri Velan Nagar

Sri Velan Nagar guideline value

The current guideline value of Sri Velan Nagar is Rs 2,389 per sq.ft, effective from 1 July 2024. This street is located in Kayirambedu village under the Chengleput Joint II SRO, classified as Mixed Special Type - II.

How the guideline value of Sri Velan Nagar has changed

In the 2017 revision, the guideline value for Sri Velan Nagar was set at Rs 1,600 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded a guideline value of Rs 2,389 per sq.ft. The latest revision in 2024 has kept the value steady at Rs 2,389 per sq.ft, indicating no percentage change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2017 revision to the 2024 revision, the guideline value has also increased by 49%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kayirambedu

Kayirambedu village has a total of 120 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 400 to Rs 3,550 per sq.ft. The median guideline value in this village is Rs 700 per sq.ft, placing Sri Velan Nagar's 2024 figure above that median.

• Sri Venkateswara Nagar: Rs 700 per sq.ft (2024)
• Sri Sakthivelan Nagar: Rs 700 per sq.ft (2024)
• Subramaniapuram: Rs 1,001 per sq.ft (2024)
• Sri Ranga Nagar Part-III: Rs 700 per sq.ft (2024)
• Sri Ranga Nagar: Rs 700 per sq.ft (2024)
• Supreem City: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Velan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,389 per sq.ft, the total guideline value would be Rs 23,89,000. The stamp duty at 7% would amount to Rs 1,67,230, and the registration fee at 2% would be Rs 47,780. Together, the total cost for stamp duty and registration would be Rs 2,15,010. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Velan Nagar?

Sri Velan Nagar falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Kayirambedu

The guideline value plays a crucial role in the registration process of property transactions in Kayirambedu. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the correct fees are applied based on the higher of the guideline value or the sale price. This ensures transparency and standardization 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 2,389 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has remained unchanged from 2023 to 2024 at Rs 2,389 per sq.ft. However, from 2017 to 2023, it increased by 49% from Rs 1,600 per sq.ft.

What is the median guideline value in Kayirambedu?

The median guideline value in Kayirambedu is Rs 700 per sq.ft. Sri Velan Nagar's 2024 guideline value is above this median.

What is the stamp duty rate for property in Sri Velan Nagar?

The stamp duty for property transactions in Sri Velan Nagar is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details online.