Guideline Value for VELA VINAYAGAR NAGAR

Vela Vinayagar Nagar guideline value

The current guideline value of Vela Vinayagar Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Athipattu village, under the Thiruvottiyur Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - I.

How the guideline value of Vela Vinayagar Nagar has changed

Over the years, the guideline value of Vela Vinayagar Nagar has seen several revisions. The 2017 revision set the value at Rs 201 per sq.ft, which increased to Rs 300 per sq.ft in the 2023 revision. The latest revision in 2024 raised the guideline value to Rs 330 per sq.ft, marking a significant increase of 64% from the 2017 figure.

From 2023 to 2024, the guideline value increased by 10%. The overall changes between 2017 and 2024 reflect a 64% rise. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Athipattu

Athipattu village has a total of 108 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 462 per sq.ft. The median value for these streets is Rs 330 per sq.ft, which is equal to the guideline value of Vela Vinayagar Nagar.

• Veera Pandiya Kattapomman Nagar: Rs 330 per sq.ft (2024)
• Vasuki Nagar: Rs 330 per sq.ft (2024)
• Venkatesa Perumal Nagar: Rs 330 per sq.ft (2024)
• Vasavi Nagar: Rs 330 per sq.ft (2024)
• Venkateshwara Nagar: Rs 330 per sq.ft (2024)
• Venkatrama Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Vela Vinayagar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, making the total charges Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vela Vinayagar Nagar?

The Vela Vinayagar Nagar area is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for additional information.

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

When buying or selling property in Athipattu, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a benchmark to assess the minimum value at which a property can be registered.

Both the buyer and seller should be aware that the stamp duty is calculated based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vela Vinayagar Nagar?

The current guideline value of Vela Vinayagar Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, and then to Rs 330 per sq.ft in 2024, reflecting an overall increase of 64% from 2017 to 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100 and the registration fee would be Rs 6,600, totaling Rs 29,700.

Which Sub Registrar Office covers this area?

The Thiruvottiyur Sub Registrar Office covers Vela Vinayagar Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How many streets in Athipattu have a guideline value?

Athipattu village has a total of 108 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 462 per sq.ft.