Guideline Value for Vel Nagar / Extension

Vel Nagar / Extension guideline value

The current guideline value of Vel Nagar / Extension is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is located in Kunrathour-B village under the Kunrathur SRO, classified as Mixed Special Type - II.

How the guideline value of Vel Nagar / Extension has changed

The guideline value for Vel Nagar / Extension has seen significant changes over the years. In the 2017 revision, the value was Rs 1,273 per sq.ft. This increased to Rs 1,900 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision set the value at Rs 2,090 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 660 to Rs 5,130 per sq.ft, with a median value of Rs 1,540 per sq.ft. The guideline value of Vel Nagar / Extension is above this median.

• Velmurugan Nagar: Rs 1,540 per sq.ft (2024)
• Velan Nagar: Rs 1,540 per sq.ft (2024)
• Ventasubramaniyan Nagar: Rs 1,540 per sq.ft (2024)
• Varsha Nagar Annexe: Rs 1,540 per sq.ft (2024)
• Varsha Nagar: Rs 1,540 per sq.ft (2024)
• Vannia Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Vel Nagar / Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, making the total Rs 1,88,100. It is important to note that the stamp 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 Vel Nagar / Extension?

Vel Nagar / Extension falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value is an essential factor in the registration process for property transactions in Kunrathour-B. It serves as a reference point for determining the stamp duty and registration fees that must be paid during the buying or selling of property.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate fees are collected. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Vel Nagar / Extension?

The current guideline value of Vel Nagar / Extension is Rs 2,090 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,273 per sq.ft to Rs 2,090 per sq.ft in 2024, marking an overall increase of 64%.

What are the other streets in Kunrathour-B and their guideline values?

Other streets in Kunrathour-B include Velmurugan Nagar, Velan Nagar, Ventasubramaniyan Nagar, Varsha Nagar Annexe, Varsha Nagar, and Vannia Street, all with a guideline value of Rs 1,540 per sq.ft for 2024.

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

For a property valued at Rs 20,90,000, the stamp duty would be Rs 1,46,300, and the registration fee would be Rs 41,800, totaling Rs 1,88,100.

Where can I find the Sub Registrar Office for Vel Nagar / Extension?

The Kunrathur Sub Registrar Office, which covers Vel Nagar / Extension, is located at No.59, Road Street, Kundrathur, Chennai -600 069.