Guideline Value for VELLANKULAM

Vellankulam guideline value

The current guideline value of Vellankulam is Rs 485 per sq.ft, effective from 1 July 2024. This street is located in Vichoor village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vellankulam has changed

The guideline value for Vellankulam has seen significant changes over the years. In 2002, the value was Rs 14 per sq.ft, which increased to Rs 100 per sq.ft in 2007. This marked a substantial rise of 614%. The value then continued to increase to Rs 440 per sq.ft in 2012, but saw a decrease of 33% to Rs 295 per sq.ft in 2017. Following this, the value surged to Rs 441 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 485 per sq.ft, an increase of 10% from the previous year.

It is important to note that there is no figure available for Vellankulam in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 3364%.

Guideline values in Vichoor

In Vichoor, there are 45 streets that carry a guideline value for 2024, ranging from Rs 330 to Rs 550 per sq.ft, with the median being Rs 485 per sq.ft. Vellankulam's 2024 figure aligns with this median value.

• Velavan Nagar: Rs 485 per sq.ft (2024)
• Vijay Nagar: Rs 485 per sq.ft (2024)
• Vikaram Nagar: Rs 485 per sq.ft (2024)
• Subramani Nagar: Rs 485 per sq.ft (2024)
• Subathra Nagar: Rs 330 per sq.ft (2024)
• St. Thomas Nagar: Rs 485 per sq.ft (2024)

Stamp duty and registration fee for property in Vellankulam

For a 1,000 sq.ft plot at the current guideline value of Rs 485 per sq.ft, the total guideline value would be Rs 4,85,000. The stamp duty at 7% would amount to Rs 33,950, and the registration fee at 2% would be Rs 9,700, bringing the total fees together to Rs 43,650. 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 more calculations.

Which Sub Registrar Office covers Vellankulam?

The Sub Registrar Office that covers Vellankulam is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vichoor. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Vellankulam?

The current guideline value of Vellankulam is Rs 485 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 14 per sq.ft to Rs 485 per sq.ft in 2024, marking an overall increase of 3364%.

What are the stamp duty and registration fees for property in Vellankulam?

For a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 33,950 and the registration fee would be Rs 9,700, totaling Rs 43,650.

Which office handles property registrations in Vellankulam?

The Thiruvottiyur Sub Registrar Office handles property registrations for Vellankulam, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is compared with the sale price to calculate the applicable fees, ensuring they reflect the property's value.