Guideline Value for VELAYUTHA REDDY Ist GURUKU STREET

VELAYUTHA REDDY Ist GURUKU STREET guideline value

The current guideline value of VELAYUTHA REDDY Ist GURUKU STREET is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village and falls under the Manavalanagar SRO with a land classification of Residential Class I Type - I.

How the guideline value of VELAYUTHA REDDY Ist GURUKU STREET has changed

The guideline value for VELAYUTHA REDDY Ist GURUKU STREET has undergone several revisions over the years. In 2007, the value was set at Rs 100 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. This was followed by a decrease to Rs 670 per sq.ft in 2017, before returning to Rs 1,000 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%, while it increased by 49% from 2017 to 2023. The overall change from 2007 to 2024 reflects a substantial increase of 900%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, which is equal to the current guideline value for VELAYUTHA REDDY Ist GURUKU STREET.

• Velayutha Reddy Street: Rs 1,000 per sq.ft (2024)
• Velunachiyar Street: Rs 1,300 per sq.ft (2024)
• Veeramamunivar Street: Rs 800 per sq.ft (2024)
• Veenas Street: Rs 800 per sq.ft (2024)
• Va.Voo.See. Street: Rs 1,300 per sq.ft (2024)
• Varalakshmi Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in VELAYUTHA REDDY Ist GURUKU STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. 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 VELAYUTHA REDDY Ist GURUKU STREET?

The Sub Registrar Office that covers VELAYUTHA REDDY Ist GURUKU STREET is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Vengathur. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is considered to ensure that the correct duties are paid. This helps maintain transparency in property transactions and ensures that both parties are aware of the financial obligations involved.

Frequently asked questions

What is the current guideline value of VELAYUTHA REDDY Ist GURUKU STREET?

The current guideline value of VELAYUTHA REDDY Ist GURUKU STREET is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, decreased to Rs 670 per sq.ft in 2017, and returned to Rs 1,000 per sq.ft in both 2023 and 2024.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, which is the same as the current guideline value for VELAYUTHA REDDY Ist GURUKU STREET.

What are the stamp duty rates for properties in VELAYUTHA REDDY Ist GURUKU STREET?

The stamp duty rate for properties in VELAYUTHA REDDY Ist GURUKU STREET is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for VELAYUTHA REDDY Ist GURUKU STREET?

The Sub Registrar Office for VELAYUTHA REDDY Ist GURUKU STREET is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.