Guideline Value for VELLALAR STREET

Vellalar Street guideline value

The current guideline value of Vellalar Street in Minjur village, under the Ponneri SRO, is Rs 1,320 per sq.ft as per the 2024 revision effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Vellalar Street has changed

The guideline value for Vellalar Street has seen several revisions over the years. The 2017 revision recorded a value of Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in 2023, marking a significant rise of 49%. The most recent 2024 revision set the guideline value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for Vellalar Street.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO with guideline values ranging from Rs 440 to Rs 1,320 per sq.ft as of the 2024 revision. The median value for these streets is Rs 550 per sq.ft, positioning Vellalar Street's 2024 value above this median.

• Venkadeswara Avenue: Rs 440 per sq.ft (2024)
• Venkadeswara Nagar: Rs 440 per sq.ft (2024)
• Venkata Reddi Palayam: Rs 550 per sq.ft (2024)
• Vedammal Nagar: Rs 550 per sq.ft (2024)
• Vedachalam Nagar: Rs 1,320 per sq.ft (2024)
• Vasantham Nagar: Rs 550 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vellalar Street?

The Sub Registrar Office that covers Vellalar Street is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Minjur. It is used to determine the stamp duty and registration fees applicable for the transaction.

When a property is sold, the guideline value is assessed to ensure that the transaction is recorded accurately. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Vellalar Street?

The current guideline value of Vellalar Street is Rs 1,320 per sq.ft as per the 2024 revision effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,320 per sq.ft in 2024, marking an overall increase of 64%.

What are the stamp duty and registration fees for a property in Vellalar Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Vellalar Street?

The Ponneri Sub Registrar Office handles registrations for Vellalar Street, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the guideline value determined for properties in Minjur?

The guideline value for properties in Minjur is determined based on various factors, including land classification and recent revisions by the Registration Department, which are reflected in the guideline value register.