Guideline Value for VELLIVITHAIAR STREET (WARD -6)

Vellivithaiar Street (Ward -6) guideline value

The current guideline value of Vellivithaiar Street (Ward -6) is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village under the Chengleput Joint II SRO, with a land classification of Residential Special Type - II.

How the guideline value of Vellivithaiar Street (Ward -6) has changed

The guideline value for Vellivithaiar Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,800 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,206 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 1,800 per sq.ft in 2023, followed by a further increase to Rs 1,980 per sq.ft in 2024, reflecting a growth of 10% from the previous year.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back up to Rs 1,800 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, positioning Vellivithaiar Street's 2024 figure above the median.

• Vel 's Doctrs Metro Polis: Rs 1,980 per sq.ft (2024)
• Veeran Alagumuthu Cone (Ward -8): Rs 1,760 per sq.ft (2024)
• Veeramamunivar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Veerakavirayar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Venkatesapuram Colony (Kr): Rs 660 per sq.ft (2024)
• Vasukiyar Street (Ward -7): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Vellivithaiar Street (Ward -6)

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. 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 information.

Which Sub Registrar Office covers Vellivithaiar Street (Ward -6)?

The Sub Registrar Office that covers Vellivithaiar Street (Ward -6) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for additional details.

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

The guideline value plays a crucial role during the registration of property transactions in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vellivithaiar Street (Ward -6)?

The current guideline value of Vellivithaiar Street (Ward -6) is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Vellivithaiar Street?

The land classification for Vellivithaiar Street (Ward -6) is Residential Special Type - II.

Where is the Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is stamp duty calculated for properties in Vellivithaiar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees amount to Rs 1,78,200.