Guideline Value for Velankanni Street

Velankanni Street guideline value

The current guideline value of Velankanni Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Class V Type - II.

How the guideline value of Velankanni Street has changed

In the 2012 revision, the guideline value was Rs 1,300 per sq.ft. This figure was then reduced to Rs 871 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the value increased significantly to Rs 1,300 per sq.ft in the 2023 revision, and further rose to Rs 1,400 per sq.ft in the 2024 revision, reflecting an 8% increase. The register has no figure for this street in the years 2002, 2003, and 2007.

From the 2017 revision to the 2023 revision, the guideline value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%, resulting in the current rate of Rs 1,400 per sq.ft.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value in this area is Rs 3,600 per sq.ft, placing Velankanni Street's 2024 figure below that median.

• Vellalar Street: Rs 3,600 per sq.ft (2024)
• Vengadachalam Street: Rs 4,000 per sq.ft (2024)
• Vengatramaier Street: Rs 4,000 per sq.ft (2024)
• Vasuki Street: Rs 4,600 per sq.ft (2024)
• Venkatapuram Thulukanathamman street: Rs 4,000 per sq.ft (2024)
• Venkataraman Iyar Street: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in Velankanni Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to Rs 98,000, and the registration fee at 2% would be Rs 28,000, making the total fees Rs 1,26,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Velankanni Street?

The Sub Registrar Office covering Velankanni Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of properties in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Velankanni Street?

The current guideline value of Velankanni Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, then back to Rs 1,300 per sq.ft in 2023, and finally to Rs 1,400 per sq.ft in 2024.

What is the land classification of Velankanni Street?

Velankanni Street is classified as Residential Class V Type - II.

What are the stamp duty and registration fees for properties on Velankanni Street?

For a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 and the registration fee would be Rs 28,000, totaling Rs 1,26,000.

Where is the Sub Registrar Office for Velankanni Street located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.