Guideline Value for VELAVAN NAGAR

Velavan Nagar guideline value

The current guideline value of Velavan Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Ponneri_2 village under the Ponneri SRO and is classified as Residential Class II Type - I.

How the guideline value of Velavan Nagar has changed

Looking back at the revisions, the guideline value for Velavan Nagar was Rs 469 per sq.ft in 2017. It remained at Rs 700 per sq.ft during the 2023 revision and continues at the same rate for the 2024 revision, showing an overall increase of 49% from 2017 to 2024. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2023 to 2024, there was no change, maintaining the rate at Rs 700 per sq.ft. This consistency in the recent revisions indicates stability in the guideline value for Velavan Nagar.

Guideline values in Ponneri_2

In Ponneri_2, there are 75 streets under the Ponneri SRO with a 2024 guideline value ranging from Rs 700 to Rs 1,300 per sq.ft. The median value for these streets is Rs 700 per sq.ft, which matches the guideline value of Velavan Nagar.

• Varadhappa Naicken St: Rs 1,200 per sq.ft (2024)
• Venpakkam Road: Rs 700 per sq.ft (2024)
• Vallalar Street: Rs 700 per sq.ft (2024)
• T.H. Road: Rs 702 per sq.ft (2024)
• Thiruvottiyur High Road: Rs 1,200 per sq.ft (2024)
• Theradi Cross Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Velavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, making a total of Rs 63,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Velavan Nagar?

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

How the guideline value is used when you buy or sell in Ponneri_2

The guideline value plays a crucial role during property transactions in Ponneri_2. It is used to determine the stamp duty and registration fees applicable when registering a property sale.

When buying or selling property, the guideline value serves as a reference point for the minimum value at which a property can be registered. This ensures that the transaction is documented at a fair value according to the local regulations.

Frequently asked questions

What is the current guideline value of Velavan Nagar?

The current guideline value of Velavan Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in both the 2023 and 2024 revisions, marking a 49% increase overall from 2017 to 2024.

What is the median guideline value in Ponneri_2?

The median guideline value in Ponneri_2 is Rs 700 per sq.ft, which is the same as the guideline value for Velavan Nagar in 2024.

What are the stamp duty rates applicable in Velavan Nagar?

The stamp duty rate in Velavan Nagar is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Velavan Nagar is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find more details online.