Guideline Value for VELALALR SRTEET

Velalalr Srteet guideline value

The current guideline value of Velalalr Srteet is Rs 750 per sq.ft, effective from 1 July 2024. This street is located in Walajabad village, under the Walajabad SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Velalalr Srteet has changed

The guideline value for Velalalr Srteet has seen several revisions over the years. The 2007 revision set the value at Rs 60 per sq.ft, which increased significantly to Rs 750 per sq.ft in the 2012 revision. However, the value dropped to Rs 502 per sq.ft in 2017, before stabilizing at Rs 750 per sq.ft in the 2023 revision and remaining unchanged in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2007 to 2012 was particularly drastic, with an increase of 1150%. Overall, from 2007 to 2024, the guideline value has increased by 1150%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with the median value being Rs 750 per sq.ft. Velalalr Srteet's 2024 figure aligns with this median.

• Veeraragava Subedher Srteet: Rs 750 per sq.ft (2024)
• Vellariamman Koil Street: Rs 750 per sq.ft (2024)
• Velleriammam Koil Srteet: Rs 750 per sq.ft (2024)
• Varasakthi Vinayagar Kovil St: Rs 750 per sq.ft (2024)
• Venkatrama Pillai Srteet: Rs 750 per sq.ft (2024)
• Vanniyar Srteet: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Velalalr Srteet

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total fees to Rs 67,500. 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 Velalalr Srteet?

The Sub Registrar Office covering Velalalr Srteet is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Walajabad. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is a critical factor in calculating these costs.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and fairly. It helps maintain transparency in property transactions, ensuring that both buyers and sellers are aware of the legal and financial implications of their dealings.

Frequently asked questions

What is the current guideline value of Velalalr Srteet?

The current guideline value of Velalalr Srteet is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 750 per sq.ft in 2012, then decreased to Rs 502 per sq.ft in 2017, and returned to Rs 750 per sq.ft in both 2023 and 2024.

What are the stamp duty and registration fees for property in Velalalr Srteet?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 52,500 and the registration fee would be Rs 15,000, totaling Rs 67,500.

Which Sub Registrar Office covers Velalalr Srteet?

The Walajabad Sub Registrar Office covers Velalalr Srteet, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

What is the land classification of Velalalr Srteet?

Velalalr Srteet is classified as Residential Class IV Type - I according to the local land classification.