Guideline Value for VELLALAR STREET

Vellalar Street guideline value

The current guideline value of Vellalar Street in Puliyur village under the Kodambakkam SRO is Rs 5,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Vellalar Street has changed

Over the years, the guideline value of Vellalar Street has seen significant changes. In 2002, the guideline value was Rs 850 per sq.ft, which increased to Rs 934 per sq.ft in 2003, marking a 10% rise. The value then jumped to Rs 1,650 per sq.ft in 2007, reflecting a 77% increase. By 2012, the value reached Rs 5,300 per sq.ft, showing a remarkable 221% increase from the previous revision. The guideline value remained at Rs 5,300 per sq.ft until 2023.

The most recent revision in 2024 saw the guideline value rise to Rs 5,800 per sq.ft, which is a 9% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 582%.

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 guideline value of Vellalar Street is equal to the median value of Rs 5,800 per sq.ft.

• Vellalar 2nd Lane (Cross Street): Rs 4,600 per sq.ft (2024)
• Vellalar 1st Lane (Cross Street): Rs 4,600 per sq.ft (2024)
• Venkatachalam Street: Rs 5,800 per sq.ft (2024)
• Veerasami Street: Rs 6,300 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total guideline value amounts to Rs 58,00,000. The stamp duty, charged at 7%, would be Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, bringing the total to Rs 5,22,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Vellalar Street?

The Sub Registrar Office that covers Vellalar Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Puliyur. It determines the minimum price at which a property can be registered, ensuring that the transaction is transparent and fair.

When you register a property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vellalar Street?

The current guideline value of Vellalar Street is Rs 5,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 850 per sq.ft in 2002 to Rs 5,800 per sq.ft in 2024, representing an overall increase of 582% over the years.

What is the land classification for Vellalar Street?

Vellalar Street is classified as Residential Class I Type - I, indicating its designation for residential use.

Where is the Kodambakkam Sub Registrar Office located?

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

How is stamp duty calculated for properties in Vellalar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 58,00,000, the stamp duty would be Rs 4,06,000 at a rate of 7%.