Guideline Value for Velankadu Pattai

Velankadu Pattai guideline value

The current guideline value of Velankadu Pattai is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village, under the AnnaNagar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Velankadu Pattai has changed

The guideline value for Velankadu Pattai has seen significant changes over the years. In the 2002 revision, the guideline value was Rs 549 per sq.ft. This increased to Rs 616 per sq.ft in 2003, marking a 12% rise. The value then saw a substantial increase to Rs 1,200 per sq.ft in 2007, which is a 95% increase from the previous year. Following this, the 2012 revision recorded a guideline value of Rs 4,000 per sq.ft, reflecting a decrease of 33% from 2007.

From 2012, the value remained at Rs 4,000 per sq.ft until the 2017 revision, where it jumped to Rs 2,680 per sq.ft, an increase of 49%. The guideline value then rose again to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year. The overall increase from 2002 to 2024 is 701%.

Guideline values in Ayanavaram

In Ayanavaram, there are 369 streets under the AnnaNagar SRO with a 2024 guideline value ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Velankadu Pattai's 2024 figure below this median.

• Veerasamy Street: Rs 4,900 per sq.ft (2024)
• Vellala 2nd Lane: Rs 4,900 per sq.ft (2024)
• Vellala 3nd Lane: Rs 4,900 per sq.ft (2024)
• Veerasamy Ist Street: Rs 4,900 per sq.ft (2024)
• Vellala 4th Lane: Rs 4,900 per sq.ft (2024)
• Veerasamy 3rd Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Velankadu Pattai

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Velankadu Pattai?

The Sub Registrar Office that covers Velankadu Pattai is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Ayanavaram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers should be aware that these fees are calculated based on the higher amount between the guideline value and the sale price of the property.

When registering a property, it is essential to ensure that the guideline value is accurately reflected in the documentation. This helps in avoiding any discrepancies that may arise during the registration process and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Velankadu Pattai?

The current guideline value of Velankadu Pattai is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 549 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 701%.

What are the stamp duty and registration fees for property in Velankadu Pattai?

The stamp duty is calculated at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,96,000.

Which Sub Registrar Office covers Velankadu Pattai?

The AnnaNagar Sub Registrar Office covers Velankadu Pattai, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value of streets in Ayanavaram?

The median guideline value of streets in Ayanavaram is Rs 4,900 per sq.ft, with Velankadu Pattai's 2024 figure being below this median.