Guideline Value for VELLALAR STREET

Vellalar Street guideline value

The current guideline value of Vellalar Street in Uthandi village, under the Neelankarai SRO, is Rs 3,300 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

The guideline value for Vellalar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. Notably, the revision figures for the years 2002, 2003, and 2007 are not available for this street in the register.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Vellalar Street's 2024 figure above this median.

• Velu Garden (Thottam): Rs 1,100 per sq.ft (2024)
• Velu Thottam/Jagatheesan Thottam: Rs 1,100 per sq.ft (2024)
• Velallar Salai: Rs 3,300 per sq.ft (2024)
• Veerasamy Garden: Rs 1,100 per sq.ft (2024)
• Veerapathran Street: Rs 2,200 per sq.ft (2024)
• Veerapathran Gopal Street: Rs 2,200 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vellalar Street?

The Vellalar Street is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Uthandi. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the government receives its due revenue from property transactions.

When buying or selling property, the guideline value is considered in conjunction with the sale price, with the higher amount being used to calculate the applicable duties and fees. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vellalar Street?

The current guideline value of Vellalar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification of Vellalar Street?

Vellalar Street is classified as Residential Class I Type - I under the current guidelines.

Where can I find the registration office for Vellalar Street?

The Neelankarai Sub Registrar Office, which covers Vellalar Street, is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value for streets in Uthandi?

The median guideline value for streets in Uthandi is Rs 1,700 per sq.ft, with Vellalar Street's value of Rs 3,300 per sq.ft being above this median.