Guideline Value for Vallakottai Velavan Nagar Extension

Vallakottai Velavan Nagar Extension guideline value

The current guideline value of Vallakottai Velavan Nagar Extension is Rs 600 per sq.ft, effective from 1 July 2024. This property is located in Vallam_B 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

The guideline value for Vallakottai Velavan Nagar Extension has seen several revisions over the years. The most recent revision in 2024 maintains the value at Rs 600 per sq.ft, unchanged from the 2023 revision, which also recorded Rs 600 per sq.ft. Prior to that, in 2017, the guideline value was Rs 402 per sq.ft, marking a significant increase of 49% from 2017 to 2023 and an overall increase of 49% from 2017 to 2024.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street, indicating that the guideline value remained unrecorded during those years.

Guideline values in Vallam_B

In Vallam_B, there are 73 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,950 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, placing Vallakottai Velavan Nagar Extension above this median.

• Vallakottai Velavan Nagar: Rs 200 per sq.ft (2024)
• Vallakottai Murugan Nagar: Rs 400 per sq.ft (2024)
• Velalar street: Rs 300 per sq.ft (2024)
• Velavan Nagar: Rs 200 per sq.ft (2024)
• Venkateswara Nagar: Rs 400 per sq.ft (2024)
• Thirumuruga Variyar Nagar: Rs 400 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 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty is calculated at 7%, resulting in Rs 42,000, while the registration fee is charged at 2%, amounting to Rs 12,000. Therefore, the total cost for stamp duty and registration fee together is Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vallakottai Velavan Nagar Extension?

The Vallakottai Velavan Nagar Extension falls under the jurisdiction of 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_B

The guideline value is a crucial factor in the registration process when buying or selling property in Vallam_B. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that both parties in the transaction are aware of the official value assigned to the property.

When registering a property, the guideline value helps to establish a fair basis for taxation and compliance with local regulations. Buyers and sellers should be informed of the current guideline value to avoid discrepancies during the registration process.

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 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft from 2023 to 2024, while it increased from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023, marking a 49% increase over that period.

What is the land classification for Vallakottai Velavan Nagar Extension?

The land classification for Vallakottai Velavan Nagar Extension is Commercial Class I Type - I.

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

The Sub Registrar Office that covers Vallakottai Velavan Nagar Extension is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Vallam_B?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 6,00,000 would incur a stamp duty of Rs 42,000 at a rate of 7%.