Guideline Value for VELLALAR 1ST LANE (CROSS STREET)

Vellalar 1st Lane (Cross Street) guideline value

The current guideline value of Vellalar 1st Lane (Cross Street) is Rs 4,600 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Vellalar 1st Lane (Cross Street) has changed

The guideline value for Vellalar 1st Lane (Cross Street) has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 1,300 per sq.ft. This value increased significantly by 231% to Rs 4,300 per sq.ft in 2012. However, it then decreased by 33% to Rs 2,881 per sq.ft in 2017. The most recent revision in 2024 shows a notable increase of 60%, bringing the value to Rs 4,600 per sq.ft.

There are no figures available for the years 2023, 2003, and 2002 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 254%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. Vellalar 1st Lane (Cross Street) has a guideline value below this median.

• Vellalar 2nd Lane (Cross Street): Rs 4,600 per sq.ft (2024)
• Vellalar Street: Rs 5,800 per sq.ft (2024)
• Veerasami Street: Rs 6,300 per sq.ft (2024)
• Venkatachalam Street: Rs 5,800 per sq.ft (2024)
• Veerapandiya Nagar 5th Street: Rs 5,000 per sq.ft (2024)
• Veerapandiya Nagar 4th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vellalar 1st Lane (Cross Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,600 per sq.ft, the total guideline value would be Rs 46,00,000. The stamp duty at 7% would amount to Rs 3,22,000, and the registration fee at 2% would be Rs 92,000, bringing the total to Rs 4,14,000. It is important 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 details.

Which Sub Registrar Office covers Vellalar 1st Lane (Cross Street)?

The Kodambakkam Sub Registrar Office covers Vellalar 1st Lane (Cross Street) and is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Puliyur. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. The guideline value ensures that the government receives appropriate revenue from property transactions.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Vellalar 1st Lane (Cross Street)?

The current guideline value of Vellalar 1st Lane (Cross Street) is Rs 4,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2007 to Rs 4,600 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and significant increases in 2012 and 2024.

What is the land classification for Vellalar 1st Lane (Cross Street)?

Vellalar 1st Lane (Cross Street) is classified as Residential Class IV Type - I.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Vellalar 1st Lane (Cross Street)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 46,00,000, the stamp duty would be Rs 3,22,000 at 7%.