Guideline Value for VEL MURUGAN NAGAR

Vel Murugan Nagar guideline value

The current guideline value of Vel Murugan Nagar is Rs 626 per sq.ft, effective from 1 July 2024. This area is located in Kakkalur village under the Tiruvallur Joint 1 SRO, classified as Residential Class II Type - III.

How the guideline value of Vel Murugan Nagar has changed

Over the years, the guideline value for Vel Murugan Nagar has seen several revisions. The 2012 revision recorded a value of Rs 625 per sq.ft, which decreased to Rs 419 per sq.ft in 2017. Following this, the value rose significantly to Rs 626 per sq.ft in both the 2023 and 2024 revisions, indicating a 49% increase from 2017 to 2023 and no change from 2023 to 2024.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 626 per sq.ft.

Guideline values in Kakkalur

In Kakkalur, there are 133 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft. The median value is Rs 626 per sq.ft, which is equal to the guideline value of Vel Murugan Nagar.

• Vengopal Street: Rs 626 per sq.ft (2024)
• Veera Ragava Nagar: Rs 626 per sq.ft (2024)
• Veera Anjaneya Puram / Nagar: Rs 626 per sq.ft (2024)
• Venkatswara Nagar: Rs 626 per sq.ft (2024)
• Vetri Nagar: Rs 626 per sq.ft (2024)
• Valluvar Cross Street: Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in Vel Murugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 626 per sq.ft, the total guideline value amounts to Rs 6,26,000. The stamp duty at 7% would be Rs 43,820, and the registration fee at 2% would be Rs 12,520, bringing the total cost for these fees to Rs 56,340. 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 Vel Murugan Nagar?

The Vel Murugan Nagar area falls under the Tiruvallur Joint 1 Sub Registrar Office located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kakkalur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a buyer or seller approaches the registration office, the guideline value is assessed to ensure that the correct fees are calculated based on either the guideline value or the sale price, whichever is higher. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vel Murugan Nagar?

The current guideline value of Vel Murugan Nagar is Rs 626 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 625 per sq.ft in 2012 to Rs 419 per sq.ft in 2017, then increased to Rs 626 per sq.ft in both 2023 and 2024.

Are there any revisions without figures for Vel Murugan Nagar?

Yes, there are no figures available for the revisions in 2002, 2003, and 2007 for Vel Murugan Nagar.

What is the registration office for Vel Murugan Nagar?

The registration office for Vel Murugan Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

How is the stamp duty calculated for properties in Vel Murugan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 626 per sq.ft, the total guideline value would be Rs 6,26,000, leading to a stamp duty of Rs 43,820.