Guideline Value for Velankanni Nagar

Velankanni Nagar guideline value

The current guideline value of Velankanni Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Sriperumbudur A village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Velankanni Nagar has changed

The guideline value for Velankanni Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 469 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 700 per sq.ft, reflecting a 49% increase from the 2017 figure.

From 2023 to 2024, there was no change in the guideline value, maintaining the rate at Rs 700 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are a total of 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 3,000 per sq.ft. The median value is Rs 700 per sq.ft, which is equal to the current guideline value of Velankanni Nagar.

• Veerasamy Pillai Street: Rs 700 per sq.ft (2024)
• Vasuki Nagar: Rs 700 per sq.ft (2024)
• Vasantham Colony: Rs 700 per sq.ft (2024)
• Vanniyar Street: Rs 1,200 per sq.ft (2024)
• VGP Chakra Town: Rs 700 per sq.ft (2024)
• V.G.P. Ramanjar Nagar I II III: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Velankanni Nagar

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% is Rs 49,000, and the registration fee at 2% is Rs 14,000, totaling Rs 63,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Velankanni Nagar?

The Sub Registrar Office that covers Velankanni Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for additional details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property, the registration fees and stamp duty are calculated based on this guideline value or the actual sale price, whichever is higher.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Velankanni Nagar?

The current guideline value of Velankanni Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49% from Rs 469 per sq.ft to Rs 700 per sq.ft in 2024. There was no change from 2023 to 2024.

What are the registration fees for property in Velankanni Nagar?

The registration fees for a property in Velankanni Nagar include a stamp duty of 7% and a registration fee of 2% on the guideline value or sale price, whichever is higher.

Which office handles property registrations for Velankanni Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations for Velankanni Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration and affects the calculation of stamp duty and registration fees. It is essential for buyers and sellers to be aware of this value during property transactions.