Guideline Value for VELU STREET EASTERN SIDE OF ARYA GOWDA ROAD

Velu Street Eastern Side Of Arya Gowda Road guideline value

The current guideline value for Velu Street Eastern Side Of Arya Gowda Road is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Velu Street Eastern Side Of Arya Gowda Road has changed

The guideline value for Velu Street Eastern Side Of Arya Gowda Road has seen several revisions over the years. In 2003, the value was Rs 1,390 per sq.ft, which increased to Rs 2,000 per sq.ft in 2007. Following that, the value surged to Rs 7,000 per sq.ft in 2012, but then dropped to Rs 4,690 per sq.ft in 2017. The value rose significantly to Rs 7,000 per sq.ft in 2023, and most recently, it has been set at Rs 7,700 per sq.ft in the 2024 revision, marking an increase of 10% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 454%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Velu Street Eastern Side Of Arya Gowda Road above this median.

• Venkataraman Street: Rs 6,600 per sq.ft (2024)
• Vazhai Thoppu: Rs 4,400 per sq.ft (2024)
• Vadivelpuram: Rs 6,600 per sq.ft (2024)
• Vijayaraghava Chari Ist Street: Rs 7,700 per sq.ft (2024)
• 70 Feet Road C.I.T. Nagar West: Rs 15,400 per sq.ft (2024)
• Thiruvengadam Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Velu Street Eastern Side Of Arya Gowda Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Velu Street Eastern Side Of Arya Gowda Road?

The Velu Street Eastern Side Of Arya Gowda Road falls under the jurisdiction of the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Mambalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Velu Street Eastern Side Of Arya Gowda Road?

The current guideline value for Velu Street Eastern Side Of Arya Gowda Road is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,390 per sq.ft in 2003 to Rs 7,700 per sq.ft in 2024, showing a total increase of 454% over the years.

What is the land classification for Velu Street Eastern Side Of Arya Gowda Road?

The land classification for Velu Street Eastern Side Of Arya Gowda Road is Residential Class I Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Velu Street Eastern Side Of Arya Gowda Road is the Thiyagaraya nagar SRO, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Mambalam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures the appropriate fees are collected during property registration.