Guideline Value for VELLIVITHAIAR STREET (WARD -6)

Vellivithaiar Street (Ward -6) guideline value

The current guideline value for Vellivithaiar Street (Ward -6) is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village and falls under the Chengleput Joint II SRO, classified as Residential Special Type - II.

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

The guideline value for Vellivithaiar Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, which is an increase from Rs 1,800 per sq.ft in the 2023 revision, reflecting a change of +10%. Prior to this, the 2017 revision recorded a value of Rs 1,206 per sq.ft, which means there was a significant increase of +49% to reach the 2023 figure. The 2012 revision had the value at Rs 1,800 per sq.ft, indicating a decrease of -33% from the 2017 figure.

Overall, comparing the 2012 revision to the current 2024 revision, there has been an increase of +10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Vellivithaiar Street's 2024 figure above that 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 guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees together to 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.

For more details, you can use the stamp duty and registration fee calculator.

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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted at a fair value as per government regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly affect the total cost of the transaction.

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 2023 to Rs 1,980 per sq.ft in 2024, a change of +10%. It increased from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2012, showing a +49% increase, but decreased by -33% from 2012 to 2017.

What is the land classification for Vellivithaiar Street?

Vellivithaiar Street is classified as Residential Special Type - II under the Chengleput Joint II SRO.

What are the stamp duty and registration fees for properties in Vellivithaiar Street?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 1,78,200.

Where is the Sub Registrar Office for Vellivithaiar Street located?

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