Guideline Value for Velalar street

Velalar street guideline value

The current guideline value of Velalar street in Vallam_B village is Rs 300 per sq.ft, effective from 1 July 2024. 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

In the 2017 revision, the guideline value for Velalar street was Rs 201 per sq.ft. This value remained unchanged at Rs 300 per sq.ft in the 2023 revision and continues to be Rs 300 per sq.ft in the 2024 revision, reflecting a 49% increase from the 2017 figure to the 2023 figure. The register has no figures for the revisions in 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 49%, and there was no change from 2023 to 2024, resulting in an overall increase of 49% from 2017 to 2024.

Guideline values in Vallam_B

In Vallam_B, there are 73 streets under the Sriperumpudur SRO with a guideline value for 2024 ranging from Rs 150 to Rs 1,950 per sq.ft. The median value is Rs 400 per sq.ft, which means Velalar street's 2024 figure is below that median.

• Velavan Nagar: Rs 200 per sq.ft (2024)
• Venkateswara Nagar: Rs 400 per sq.ft (2024)
• Vetri Nagar: Rs 400 per sq.ft (2024)
• Vallakottai Velavan Nagar Extension: Rs 600 per sq.ft (2024)
• Vallakottai Velavan Nagar: Rs 200 per sq.ft (2024)
• Vallakottai Murugan 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, making the total cost Rs 27,000. It's 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 details.

Which Sub Registrar Office covers Velalar street?

Velalar street is covered by 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 during the registration of property transactions in Vallam_B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's assessed value.

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 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Velalar street has remained at Rs 300 per sq.ft from 2023 to 2024, with a 49% increase from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023.

What is the land classification for Velalar street?

Velalar street is classified as Residential Class II Type - I, indicating its designated use for residential purposes.

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

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

How is the 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, if the guideline value is Rs 3,00,000, the stamp duty at 7% would be Rs 21,000.