Guideline Value for VELSWAMY NAGAR EXTENSION

Velswamy Nagar Extension guideline value

The current guideline value of Velswamy Nagar Extension is Rs 4,125 per sq.ft, effective from 1 July 2024. This area is located in Kilkattalai village and falls under the Pallavaram SRO. The land classification for this street is Mixed Type - I.

How the guideline value of Velswamy Nagar Extension has changed

The guideline value for Velswamy Nagar Extension has seen several revisions over the years. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 3,750 per sq.ft, which was then increased by 10% to Rs 4,125 per sq.ft in the 2024 revision.

This increase from 2023 to 2024 reflects a significant adjustment in the guideline value. The current figure of Rs 4,125 per sq.ft is now above the median value of Rs 2,530 per sq.ft for the 194 streets in Kilkattalai under the Pallavaram SRO.

Guideline values in Kilkattalai

Kilkattalai village has a range of guideline values, with figures for 2024 ranging from Rs 1,080 to Rs 5,500 per sq.ft. Velswamy Nagar Extension's guideline value is above the median of Rs 2,530 per sq.ft. Below are the guideline values for other streets in Kilkattalai:

• Veluswamy Nagar: Rs 3,300 per sq.ft (2024)
• Velmurugan Nagar: Rs 2,200 per sq.ft (2024)
• Vel Murugan Colony: Rs 2,200 per sq.ft (2024)
• Venkateswara Nagar: Rs 4,125 per sq.ft (2024)
• Venkateswara Nagar MAIN ROAD: Rs 4,125 per sq.ft (2024)
• Vallakottai Murugan Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Velswamy Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 4,125 per sq.ft, the total guideline value amounts to Rs 41,25,000. The stamp duty at 7% would be Rs 2,88,750, and the registration fee at 2% would be Rs 82,500, bringing the total to Rs 3,71,250. 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 Velswamy Nagar Extension?

The Sub Registrar Office that covers Velswamy Nagar Extension is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kilkattalai. It is used to determine the stamp duty and registration fees that need to be paid at the time of property registration.

Frequently asked questions

What is the current guideline value of Velswamy Nagar Extension?

The current guideline value of Velswamy Nagar Extension is Rs 4,125 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,750 per sq.ft in 2023 to Rs 4,125 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for property in Velswamy Nagar Extension?

For a property valued at Rs 41,25,000, the stamp duty would be Rs 2,88,750 and the registration fee would be Rs 82,500, totaling Rs 3,71,250. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Velswamy Nagar Extension?

The Pallavaram Sub Registrar Office handles registrations for Velswamy Nagar Extension. It is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Velswamy Nagar Extension?

The land classification for Velswamy Nagar Extension is Mixed Type - I. This classification can impact the usage and development potential of the property.