Guideline Value for VELAMMAL NAGAR

Velammal Nagar guideline value

The current guideline value of Velammal Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Aamoor village and falls under the Ponneri SRO. The land classification for Velammal Nagar is Residential Class II Type - I.

How the guideline value of Velammal Nagar has changed

The guideline value for Velammal Nagar has remained at Rs 200 per sq.ft since the 2023 revision, which also recorded the same figure. Prior to these revisions, the register has no figure for this street in the years 2017, 2012, 2007, 2003, and 2002.

As per the 2024 revision, there was no change in the guideline value from the previous year, maintaining a rate of Rs 200 per sq.ft. This consistency reflects a stable valuation for this area within Aamoor village.

Guideline values in Aamoor

Aamoor village has a range of guideline values across its streets, with figures for 2024 varying from Rs 175 to Rs 800 per sq.ft. Velammal Nagar's guideline value matches the median of Rs 200 per sq.ft among these streets.

• Sri Srinivasa Nagar: Rs 400 per sq.ft (2024)
• Sakthi Sai Nagar: Rs 400 per sq.ft (2024)
• Olive Avenue Phase -III: Rs 175 per sq.ft (2024)
• Olive Avenue Phase -II: Rs 175 per sq.ft (2024)
• Manimegalai Nagar: Rs 200 per sq.ft (2024)
• Kumarasamy Green Field: Rs 200 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that 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 on fees applicable to your property transaction.

Which Sub Registrar Office covers Velammal Nagar?

The Sub Registrar Office that covers Velammal Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Aamoor. It determines the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Velammal Nagar?

The current guideline value of Velammal Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since the 2023 revision. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What are the other streets in Aamoor with their guideline values?

Other streets in Aamoor include Sri Srinivasa Nagar and Sakthi Sai Nagar at Rs 400 per sq.ft, Olive Avenue Phase -III and Phase -II at Rs 175 per sq.ft, and Manimegalai Nagar and Kumarasamy Green Field at Rs 200 per sq.ft.

What is the stamp duty for a property in Velammal Nagar?

The stamp duty for a property in Velammal Nagar is calculated at 7% of the guideline value. For example, a property valued at Rs 2,00,000 would incur a stamp duty of Rs 14,000.

Where can I find the Sub Registrar Office for Velammal Nagar?

The Sub Registrar Office for Velammal Nagar is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can visit the office for registration services.