Guideline Value for Velalar street

Velalar street guideline value

The current guideline value of Velalar street in Vallam village is Rs 300 per sq.ft, effective from the 2024 revision. This street falls under the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Velalar street has changed

The guideline value for Velalar street has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 300 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 300 per sq.ft. The 2017 revision saw a decrease to Rs 201 per sq.ft, marking a -33% change from the 2012 figure. The most recent 2024 revision has kept the guideline value steady at Rs 300 per sq.ft, reflecting a 0% change from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007 for Velalar street. Overall, comparing the 2012 revision to the 2024 revision shows no change, maintaining the guideline value at Rs 300 per sq.ft.

Guideline values in Vallam

In Vallam, a total of 51 streets fall under the Sriperumpudur SRO, with 2024 guideline values ranging from Rs 150 to Rs 1,950 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, placing Velalar street's 2024 guideline value above this median.

• Velavan Nagar: Rs 200 per sq.ft (2024)
• Vallakottai Velavan Nagar Extension: Rs 601 per sq.ft (2024)
• Vallakottai Velavan Nagar: Rs 200 per sq.ft (2024)
• Vallakottai Murugan Nagar: Rs 200 per sq.ft (2024)
• Victoria Town: Rs 200 per sq.ft (2024)
• Vishnupriya Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Velalar street

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Velalar street?

The Velalar street 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

The guideline value serves as a benchmark for property transactions in Vallam, determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that these fees are based on a standardized value.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of property transactions. This value is regularly revised to reflect changes in the real estate market, ensuring that it remains relevant and accurate.

Frequently asked questions

What is the current guideline value of Velalar street?

The current guideline value of Velalar street is Rs 300 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft from 2012 to 2024, with a decrease to Rs 201 per sq.ft in 2017 and a steady value in 2023.

What is the land classification of Velalar street?

Velalar street is classified as Residential Class II Type - I, which influences its guideline value and usage.

Where can I find the Sub Registrar Office for Velalar street?

The Sub Registrar Office covering Velalar street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 3,00,000 would incur a stamp duty of Rs 21,000 at a rate of 7%.