Guideline Value for VELAMMAL NAGAR

Velammal Nagar guideline value

The current guideline value of Velammal Nagar is Rs 400 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area is located in Vakkupattu A village under the Walajabad SRO and is classified as Residential Class I Type - III.

How the guideline value of Velammal Nagar has changed

In the 2017 revision, the guideline value was Rs 268 per sq.ft. This figure remained unchanged at Rs 400 per sq.ft in the 2023 revision and continues to be Rs 400 per sq.ft in the 2024 revision, indicating a 49% increase from the 2017 figure to both the 2023 and 2024 figures. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was an increase of 49%, and the overall change from 2017 to 2024 is also +49%. The consistent guideline value of Rs 400 per sq.ft from 2023 to 2024 shows no change in this period.

Guideline values in Vakkupattu A

In Vakkupattu A, there are 14 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,090 per sq.ft, with a median value of Rs 500 per sq.ft. Velammal Nagar's guideline value is below this median.

• Un Named Layout (Farmsite) S.No:822/2c,2d,2e,2f,2g,2h,2j,2k,2l: Rs 400 per sq.ft (2024)
• Unnamed Layout: Rs 400 per sq.ft (2024)
• Tierra: Rs 2,090 per sq.ft (2024)
• Sri Sairam Township: Rs 500 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 400 per sq.ft (2024)
• Sai Baba Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Velammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. Please 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 Velammal Nagar?

The Sub Registrar Office that covers Velammal Nagar 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 Vakkupattu A

The guideline value is crucial during property transactions as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate applicable fees.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Velammal Nagar?

The current guideline value of Velammal Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 49%, going from Rs 268 per sq.ft to Rs 400 per sq.ft in both the 2023 and 2024 revisions.

What is the median guideline value in Vakkupattu A?

The median guideline value in Vakkupattu A is Rs 500 per sq.ft, with Velammal Nagar's value being below this median.

What are the stamp duty rates for property in Velammal Nagar?

The stamp duty rate for property transactions in Velammal Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Walajabad Sub Registrar Office?

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