Guideline Value for VELAYUDHAM ST

Velayudham St guideline value

The current guideline value of Velayudham St is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Paleripattu village and falls under the Avadi SRO with a land classification of Commercial Special Type - I.

How the guideline value of Velayudham St has changed

The guideline value for Velayudham St has seen several revisions over the years. The earliest recorded revision was in 2012, with a value of Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The value then increased significantly to Rs 1,800 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 1,980 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 124%. Overall, from 2012 to 2024, the guideline value has increased by 65%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Velayudham St.

Guideline values in Paleripattu

Paleripattu village has a total of 111 streets under the Avadi SRO, with guideline values ranging from Rs 801 to Rs 4,200 per sq.ft. The median guideline value in this area is Rs 990 per sq.ft, placing Velayudham St's 2024 figure above that median.

• Varadharajan St: Rs 990 per sq.ft (2024)
• Venkateswara Oil Mill St: Rs 990 per sq.ft (2024)
• Vgn Aviv Enclave: Rs 2,420 per sq.ft (2024)
• V.G.N.Royal Enclave: Rs 1,950 per sq.ft (2024)
• Zahir Hussain Street: Rs 803 per sq.ft (2024)
• Thiruvallur St: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Velayudham St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Velayudham St?

The Sub Registrar Office that covers Velayudham St is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Paleripattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is important to be aware of the guideline value, as it can influence negotiations and final sale prices. Buyers should ensure that the sale price is not lower than the guideline value, as the duty is charged on the higher of the two.

Frequently asked questions

What is the current guideline value of Velayudham St?

The current guideline value of Velayudham St is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What are the other streets with guideline values in Paleripattu?

Other streets in Paleripattu include Varadharajan St and Venkateswara Oil Mill St, both at Rs 990 per sq.ft, and Vgn Aviv Enclave at Rs 2,420 per sq.ft, among others.

How is the stamp duty calculated for properties in Velayudham St?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600.

Where is the Sub Registrar Office for Velayudham St located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.