Guideline Value for VELARAMMAN KOIL STREET

Velaramman Koil Street guideline value

The current guideline value of Velaramman Koil Street is Rs 101 per sq.ft, effective from 1 July 2024. This street is located in the village of Cheyyur, under the Cheyyur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Velaramman Koil Street has changed

The guideline value for Velaramman Koil Street has seen several revisions over the years. The 2017 revision set the value at Rs 50 per sq.ft. This figure increased significantly to Rs 100 per sq.ft in the 2023 revision, marking a 100% increase. The most recent revision in 2024 raised the guideline value to Rs 101 per sq.ft, reflecting a 1% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 102%.

Guideline values in Cheyyur - A

In Cheyyur - A, there are 64 streets under the Cheyyur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 500 per sq.ft. The median guideline value is Rs 101 per sq.ft, which is equal to the current value of Velaramman Koil Street.

• VELLIMEDU COLONY MATHAKOIL 1st STREET: Rs 101 per sq.ft (2024)
• VELLIMEDU COLONY MATHAKOIL 2st STREET: Rs 101 per sq.ft (2024)
• Vandavasi Salai: Rs 200 per sq.ft (2024)
• Valluvan Street: Rs 101 per sq.ft (2024)
• Vadivel Nagar: Rs 200 per sq.ft (2024)
• Vadakku Street: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Velaramman Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 101 per sq.ft, the guideline value amounts to Rs 1,01,000. The stamp duty at 7% would be Rs 7,070, and the registration fee at 2% would be Rs 2,020, bringing the total to Rs 9,090. 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 Velaramman Koil Street?

The Sub Registrar Office that covers Velaramman Koil Street is the Cheyyur Sub Registrar Office, located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Cheyyur - A

The guideline value plays a crucial role in the property registration process in Cheyyur - A. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Velaramman Koil Street?

The current guideline value of Velaramman Koil Street is Rs 101 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 102% overall, from Rs 50 per sq.ft to Rs 101 per sq.ft in 2024.

What are the other streets in Cheyyur - A with similar guideline values?

Other streets in Cheyyur - A with a guideline value of Rs 101 per sq.ft include VELLIMEDU COLONY MATHAKOIL 1st STREET, VELLIMEDU COLONY MATHAKOIL 2st STREET, and Valluvan Street.

What are the stamp duty and registration fees for properties in Velaramman Koil Street?

For a property valued at Rs 1,01,000, the stamp duty would be Rs 7,070 and the registration fee would be Rs 2,020, totaling Rs 9,090.

Where is the Sub Registrar Office for Velaramman Koil Street located?

The Cheyyur Sub Registrar Office is located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone.