Guideline Value for Velan Nagar Annex

Velan Nagar Annex guideline value

The current guideline value of Velan Nagar Annex is Rs 220 per sq.ft, effective from 1 July 2024. This property is located in Perungavur village under the Redhills SRO, classified as Residential Class III Type - I.

How the guideline value of Velan Nagar Annex has changed

The guideline value for Velan Nagar Annex has undergone several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 12 per sq.ft. This increased significantly to Rs 100 per sq.ft in 2007, and then to Rs 200 per sq.ft in 2012. However, in 2017, the value decreased to Rs 134 per sq.ft before rising again to Rs 200 per sq.ft in 2023. The current value of Rs 220 per sq.ft reflects a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1733%. The register does not have a figure for the year 2002 for this street.

Guideline values in Perungavur

In Perungavur, there are 79 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft. The median value for these streets is Rs 275 per sq.ft, placing Velan Nagar Annex below this median.

• Velan Nagar Annex I: Rs 220 per sq.ft (2024)
• Velavan Nagar: Rs 385 per sq.ft (2024)
• Velan Nagar: Rs 220 per sq.ft (2024)
• Vekkali Amman Nagar: Rs 220 per sq.ft (2024)
• Vasugi Nagar: Rs 275 per sq.ft (2024)
• Vaideki Nagar: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Velan Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total cost for these fees to Rs 19,800. 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 details.

Which Sub Registrar Office covers Velan Nagar Annex?

The Velan Nagar Annex falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungavur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, thus protecting both the buyer and seller. It is essential to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Velan Nagar Annex?

The current guideline value of Velan Nagar Annex is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 12 per sq.ft in 2003, rising to Rs 220 per sq.ft in 2024, with notable fluctuations in between.

What is the registration office for Velan Nagar Annex?

The Redhills Sub Registrar Office covers Velan Nagar Annex, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the stamp duty and registration fees for properties in Velan Nagar Annex?

For a property valued at Rs 2,20,000, the stamp duty is Rs 15,400, and the registration fee is Rs 4,400, totaling Rs 19,800. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find more information about the guideline values in Perungavur?

For more information about guideline values in Perungavur, you can refer to the Registration Department's guideline value register (TNReginet) or visit the relevant links for other streets in the area.