Guideline Value for VELAVAN NAGAR

Velavan Nagar guideline value

The current guideline value of Velavan Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area falls under Thaneerkulam village and is registered with the Tiruvallur Joint 1 SRO. The land classification for this region is Residential Class II Type - III.

How the guideline value of Velavan Nagar has changed

The guideline value for Velavan Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which was a decrease from Rs 201 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 300 per sq.ft, and the current 2024 revision also holds the same value. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%, followed by a significant increase of 49% from 2017 to 2023. However, there has been no change in the guideline value from 2012 to 2024, with the value remaining at Rs 300 per sq.ft throughout this period.

Guideline values in Thaneerkulam

Currently, there are no specific village figures available for Thaneerkulam. The street of Velavan Nagar is part of the Thaneerkulam area, which is managed under the Tiruvallur Joint 1 SRO.

Stamp duty and registration fee for property in Velavan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Velavan Nagar?

The Sub Registrar Office that covers Velavan Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thaneerkulam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a property is registered, the guideline value is compared with the sale price to ensure that the appropriate fees are calculated based on the higher amount. This process ensures transparency and consistency in property transactions within the area.

Frequently asked questions

What is the current guideline value of Velavan Nagar?

The current guideline value of Velavan Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft from 2012 to 2024, with a decrease from Rs 300 to Rs 201 per sq.ft in 2017 and an increase of 49% from 2017 to 2023.

What are the stamp duty and registration fees for property in Velavan Nagar?

For a 1,000 sq.ft plot at the guideline value of Rs 300 per sq.ft, the total stamp duty and registration fees would amount to Rs 27,000, which includes Rs 21,000 for stamp duty and Rs 6,000 for registration fees.

Which Sub Registrar Office covers Velavan Nagar?

Velavan Nagar is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone.

Is there any historical data available for Velavan Nagar's guideline value?

Yes, historical data for Velavan Nagar's guideline value is available, showing revisions for the years 2012, 2017, 2023, and 2024. However, there are no figures available for the years 2002, 2003, and 2007 for this street.