Guideline Value for Velan Nagar 10th Street

Velan Nagar 10th Street guideline value

The current guideline value of Velan Nagar 10th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Velan Nagar 10th Street has changed

The guideline value for Velan Nagar 10th Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 3,500 per sq.ft. The most recent revision in 2024 increased the guideline value to Rs 3,850 per sq.ft, reflecting a change of +10% from the 2012 figure.

There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street in the register.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value. The values range from Rs 2,750 to Rs 8,800 per sq.ft, with the median being Rs 3,850 per sq.ft. The guideline value for Velan Nagar 10th Street is equal to this median.

• Velan Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Velan Nagar 1st Main Road: Rs 3,850 per sq.ft (2024)
• Velan Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Velan Nagar 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Velan Nagar 2nd Main Road: Rs 3,850 per sq.ft (2024)
• Velan Nagar 2nd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Velan Nagar 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Velan Nagar 10th Street?

The Sub Registrar Office that covers Velan Nagar 10th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Valasaravakkam

The guideline value is a crucial factor when registering a property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Velan Nagar 10th Street?

The current guideline value of Velan Nagar 10th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, which is a change of +10%. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What is the land classification for Velan Nagar 10th Street?

The land classification for Velan Nagar 10th Street is Residential Class II Type - I. This classification indicates the type of residential development permitted in the area.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is 2% of the guideline value or sale price, also whichever is higher.

Where is the Sub Registrar Office for Velan Nagar 10th Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. This office handles the registration of properties in the area.