Guideline Value for Vallakottai Velavan Nagar Extension

Vallakottai Velavan Nagar Extension guideline value

The current guideline value of Vallakottai Velavan Nagar Extension is Rs 601 per sq.ft, effective from 1 July 2024. This area is located in Vallam village under the Sriperumpudur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Vallakottai Velavan Nagar Extension has changed

Over the years, the guideline value for Vallakottai Velavan Nagar Extension has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision when it was adjusted to Rs 402 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 600 per sq.ft in the 2023 revision, and it has remained stable at Rs 601 per sq.ft in the 2024 revision, reflecting no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, when considering the period from 2012 to 2024, the guideline value has not changed, remaining at Rs 601 per sq.ft, which is the same as the 2024 figure.

Guideline values in Vallam

In Vallam village, there are 51 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,950 per sq.ft, with a median of Rs 200 per sq.ft. The guideline value for Vallakottai Velavan Nagar Extension is above this median.

• Vallakottai Velavan Nagar: Rs 200 per sq.ft (2024)
• Vallakottai Murugan Nagar: Rs 200 per sq.ft (2024)
• Velalar street: Rs 300 per sq.ft (2024)
• Velavan Nagar: Rs 200 per sq.ft (2024)
• Thirumuruga Variyar Nagar: Rs 410 per sq.ft (2024)
• Victoria Town: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Vallakottai Velavan Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 601 per sq.ft, the total guideline value amounts to Rs 6,01,000. The stamp duty at 7% would be Rs 42,070, and the registration fee at 2% would be Rs 12,020, bringing the total cost for these fees to Rs 54,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Vallakottai Velavan Nagar Extension?

The Vallakottai Velavan Nagar Extension falls under the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Vallam. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold.

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

Frequently asked questions

What is the current guideline value of Vallakottai Velavan Nagar Extension?

The current guideline value of Vallakottai Velavan Nagar Extension is Rs 601 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 601 per sq.ft in 2024, which is unchanged from 2023. It was Rs 600 per sq.ft in 2023, Rs 402 per sq.ft in 2017, and Rs 600 per sq.ft in 2012.

What is the classification of land in Vallakottai Velavan Nagar Extension?

The land in Vallakottai Velavan Nagar Extension is classified as Commercial Class I Type - I. This classification can affect the guideline value and its application in real estate transactions.

What are the stamp duty and registration fees for property transactions?

Stamp duty is typically charged at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 54,090.

Where can I find the Sub Registrar Office for Vallakottai Velavan Nagar Extension?

The Sub Registrar Office covering Vallakottai Velavan Nagar Extension is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more details by visiting the appropriate online resources.