Guideline Value for VELAN AVENUE

Velan Avenue guideline value

The current guideline value of Velan Avenue in Paandoor village, under the Thiruporur SRO, is Rs 1,493 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Velan Avenue has changed

In the 2023 revision, the guideline value for Velan Avenue was Rs 1,493 per sq.ft. There was no change in the guideline value from 2023 to 2024, maintaining the rate at Rs 1,493 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the guideline value has remained consistent at Rs 1,493 per sq.ft from 2023 to 2024, showing a change of +0%. This consistency indicates stability in the valuation for this area over the recent years.

Guideline values in Paandoor

In Paandoor, there are 35 streets under the Thiruporur SRO that have a 2024 guideline value ranging from Rs 450 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,493 per sq.ft, which is equal to the guideline value of Velan Avenue.

• Venkateshwara Avenue Phase I & II: Rs 600 per sq.ft (2024)
• Venkateshwar Avenue: Rs 805 per sq.ft (2024)
• United Enclave: Rs 2,000 per sq.ft (2024)
• VSV Avenue: Rs 1,110 per sq.ft (2024)
• Sri Sumangali Nagar: Rs 1,200 per sq.ft (2024)
• Sri Balaji Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Velan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,493 per sq.ft, the total guideline value would be Rs 14,93,000. The stamp duty at 7% would amount to Rs 1,04,510, and the registration fee at 2% would be Rs 29,860, making the total cost Rs 1,34,370. 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 Velan Avenue?

The Sub Registrar Office that covers Velan Avenue is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Paandoor. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both the buyer and seller should be aware of the guideline value, as it directly impacts the costs associated with the transaction. It is advisable to consult the latest guideline values to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Velan Avenue?

The current guideline value of Velan Avenue is Rs 1,493 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Velan Avenue has remained at Rs 1,493 per sq.ft from 2023 to 2024, with no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What are the guideline values for other streets in Paandoor?

Other streets in Paandoor have varying guideline values, ranging from Rs 450 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,493 per sq.ft.

What are the stamp duty and registration fees for property in Velan Avenue?

The stamp duty for a property valued at Rs 14,93,000 is Rs 1,04,510, and the registration fee is Rs 29,860, totaling Rs 1,34,370.

Where can I find the Sub Registrar Office for Velan Avenue?

The Sub Registrar Office covering Velan Avenue is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.