Guideline Value for VELLALAR 2ND LANE (CROSS STREET)

Vellalar 2nd Lane (Cross Street) guideline value

The current guideline value of Vellalar 2nd 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, and is classified as Residential Class IV Type - I.

How the guideline value of Vellalar 2nd Lane (Cross Street) has changed

The guideline value for Vellalar 2nd Lane (Cross Street) has undergone several revisions over the years. In 2007, the guideline value was Rs 1,300 per sq.ft, which increased significantly to Rs 4,300 per sq.ft in 2012, marking a rise of 231%. However, the value decreased to Rs 2,881 per sq.ft in 2017, reflecting a drop of 33%. The most recent revision in 2024 saw the value rise again to Rs 4,600 per sq.ft, representing a 60% increase from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 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. The median guideline value in this area is Rs 5,800 per sq.ft, placing the 2024 figure for Vellalar 2nd Lane (Cross Street) below this median.

• Vellalar 1st 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 2nd 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 amounts to Rs 46,00,000. The stamp duty at 7% would be Rs 3,22,000, while the registration fee at 2% would be Rs 92,000, bringing the total cost to Rs 4,14,000. 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 Vellalar 2nd Lane (Cross Street)?

The Vellalar 2nd Lane (Cross Street) falls under the jurisdiction of the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puliyur. It serves as a reference point for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vellalar 2nd Lane (Cross Street)?

The current guideline value of Vellalar 2nd 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, showing an overall increase of 254%. It has seen fluctuations, including a decrease to Rs 2,881 per sq.ft in 2017.

What is the land classification for Vellalar 2nd Lane (Cross Street)?

Vellalar 2nd Lane (Cross Street) is classified as Residential Class IV Type - I, indicating its designation for residential purposes.

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 Puliyur?

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