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 village falls 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 several revisions over the years. The 2017 revision set the value at Rs 295 per sq.ft. This increased to Rs 441 per sq.ft in the 2023 revision, marking a 49% increase. The current 2024 revision has further raised the guideline value to Rs 485 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 the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vichoor_B

Vichoor_B has 45 streets under the Thiruvottiyur SRO, with guideline values ranging from Rs 330 to Rs 550 per sq.ft. The median value is Rs 485 per sq.ft, which is equal to the current guideline value for Vellankulam.

• 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 amounts to Rs 4,85,000. The stamp duty at 7% would be Rs 33,950, and the registration fee at 2% would be Rs 9,700, bringing the total fees 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vellankulam?

The Vellankulam area is covered by the Thiruvottiyur Sub Registrar Office located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Vichoor_B, as it determines the stamp duty and registration fees payable during the registration of a property. Buyers and sellers must be aware that the guideline value is used as a benchmark for calculating these fees.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to assess the applicable duties. This ensures that all transactions are documented at a value that reflects the current market conditions as established by the government.

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 the 2017 revision, the guideline value has increased from Rs 295 per sq.ft to Rs 485 per sq.ft in 2024, marking an overall increase of 64%.

What is the stamp duty rate for properties in Vellankulam?

The stamp duty rate for properties in Vellankulam is 7% of the guideline value or sale price, whichever is higher.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What are the guideline values for other streets in Vichoor_B?

Other streets in Vichoor_B have guideline values ranging from Rs 330 to Rs 550 per sq.ft, with several streets, including Velavan Nagar, Vijay Nagar, and St. Thomas Nagar, also valued at Rs 485 per sq.ft in 2024.