Guideline Value for VELLIYAPPA NAGAR

Velliyappa Nagar guideline value

The current guideline value of Velliyappa Nagar is Rs 104 per sq.ft, effective from 1 July 2024. This area is located in Pandravedu village under the Pallipattu SRO and is classified as Residential Class I Type - I.

How the guideline value of Velliyappa Nagar has changed

Over the years, the guideline value of Velliyappa Nagar has seen several revisions. The register shows that in 2012, the guideline value was Rs 70 per sq.ft, which decreased to Rs 47 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, there was a significant increase of 113%, raising the value to Rs 100 per sq.ft. The most recent revision in 2024 increased the guideline value to Rs 104 per sq.ft, marking a 4% rise from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 49%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Pandravedu

Currently, there are no specific guideline values available for other streets in Pandravedu under the Pallipattu SRO. The guideline value for Velliyappa Nagar stands at Rs 104 per sq.ft for 2024.

Stamp duty and registration fee for property in Velliyappa Nagar

For a 1,000 sq.ft plot at the current rate of Rs 104 per sq.ft, the guideline value amounts to Rs 1,04,000. The stamp duty at 7% would be Rs 7,280, and the registration fee at 2% would be Rs 2,080, totaling Rs 9,360. 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 on calculating fees.

Which Sub Registrar Office covers Velliyappa Nagar?

The Sub Registrar Office that covers Velliyappa Nagar is the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Pandravedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When you buy or sell property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This process helps in maintaining a standardized approach to property valuation in the region.

Frequently asked questions

What is the current guideline value of Velliyappa Nagar?

The current guideline value of Velliyappa Nagar is Rs 104 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2012 to Rs 104 per sq.ft in 2024, showing an overall increase of 49% over this period.

What was the guideline value in 2017?

In 2017, the guideline value of Velliyappa Nagar was Rs 47 per sq.ft, which was a decrease from Rs 70 per sq.ft in 2012.

Is there a guideline value for other streets in Pandravedu?

Currently, there are no specific guideline values available for other streets in Pandravedu under the Pallipattu SRO.

What is the stamp duty for property in Velliyappa Nagar?

The stamp duty for property in Velliyappa Nagar is 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 1,04,000, the stamp duty would be Rs 7,280.