Guideline Value for Vallakottai Velavan Nagar

Vallakottai Velavan Nagar guideline value

The current guideline value of Vallakottai Velavan Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Vallam village and falls under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Vallakottai Velavan Nagar has changed

The guideline value for Vallakottai Velavan Nagar has undergone several revisions over the years. In the 2007 revision, the value was Rs 50 per sq.ft, which increased significantly to Rs 200 per sq.ft in the 2012 revision. However, this value decreased to Rs 134 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 200 per sq.ft, and the same value was retained in the 2024 revision, resulting in a 0% change from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 300%.

For the years 2002 and 2003, the register has no figure for this street. The 2017 revision saw an increase of 49% from the previous revision, while the 2012 to 2017 revision experienced a decrease of 33%. The substantial increase of 300% from 2007 to 2012 highlights a significant change in the guideline value during that period.

Guideline values in Vallam

In Vallam, 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. The median value for these streets is Rs 200 per sq.ft, placing Vallakottai Velavan Nagar's 2024 figure at the median.

• Vallakottai Velavan Nagar Extension: Rs 601 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

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost to Rs 18,000. 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 accurate calculations.

Which Sub Registrar Office covers Vallakottai Velavan Nagar?

The Sub Registrar Office that covers Vallakottai Velavan Nagar is 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 process when buying or selling property in Vallam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with legal requirements during property transactions. It also aids in assessing the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of Vallakottai Velavan Nagar?

The current guideline value of Vallakottai Velavan Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, decreased to Rs 134 per sq.ft in 2017, and returned to Rs 200 per sq.ft in both 2023 and 2024.

What is the median guideline value in Vallam?

The median guideline value in Vallam for 2024 is Rs 200 per sq.ft, which is the same as the guideline value for Vallakottai Velavan Nagar.

What are the stamp duty and registration fees for property in Vallakottai Velavan Nagar?

The stamp duty is 7% and the registration fee is 2%, based on the higher of the guideline value or the sale price. For a 1,000 sq.ft plot, the total fees would be Rs 18,000.

Where is the Sub Registrar Office for Vallakottai Velavan Nagar located?

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