Guideline Value for Velankanni Nagar

Velankanni Nagar guideline value

The current guideline value of Velankanni Nagar is Rs 605 per sq.ft, effective from 1 July 2024. This area is located in Thirumangalam village under the Sunguvarchattram SRO, classified as Residential Class IV Type - I.

How the guideline value of Velankanni Nagar has changed

The guideline value for Velankanni Nagar has undergone several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased to Rs 200 per sq.ft in 2012, marking a 33% rise. By 2017, the value further increased to Rs 405 per sq.ft, a significant jump of 103%. The guideline value remained unchanged at Rs 605 per sq.ft in both the 2023 and 2024 revisions, indicating a 49% increase from the 2017 figure.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, the guideline value has increased by 303% from Rs 150 per sq.ft in 2007 to Rs 605 per sq.ft in 2024.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 2,000 per sq.ft. The median guideline value is Rs 605 per sq.ft, which is equal to the current value of Velankanni Nagar.

• Union Street: Rs 400 per sq.ft (2024)
• Thriruvalluvar Street: Rs 605 per sq.ft (2024)
• Walajabad Road: Rs 1,750 per sq.ft (2024)
• Thiruvallur Road (Sunguvar Chatram Bus Stop To Vasuki Thirumana Mahal): Rs 1,750 per sq.ft (2024)
• Thiruvallur Road (Sunguvar Chatram Bus Stop To Palkarar Street): Rs 2,000 per sq.ft (2024)
• Thiruvallur Road (Annai Velanganni Nagar First Street to Kandigai): Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Velankanni Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 605 per sq.ft, the total guideline value amounts to Rs 6,05,000. The stamp duty at 7% would be Rs 42,350, and the registration fee at 2% would be Rs 12,100, bringing the total fees to Rs 54,450. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Velankanni Nagar?

The Sub Registrar Office that covers Velankanni Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Thirumangalam, as it determines the amount of stamp duty and registration fees that need to be paid. Buyers should be aware that the guideline value is set by the government and is subject to periodic revisions based on various factors.

When a property is registered, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Velankanni Nagar?

The current guideline value of Velankanni Nagar is Rs 605 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 150 per sq.ft in 2007 to Rs 605 per sq.ft in 2024, marking an overall increase of 303%.

What is the land classification of Velankanni Nagar?

Velankanni Nagar is classified as Residential Class IV Type - I.

Where can I find other guideline values in Thirumangalam?

Other streets in Thirumangalam have varying guideline values, with a range from Rs 250 to Rs 2,000 per sq.ft. The median value is Rs 605 per sq.ft, which matches the value of Velankanni Nagar.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft property at Rs 605 per sq.ft would incur total fees of Rs 54,450.