Guideline Value for Velavan Nagar

Velavan Nagar guideline value

The current guideline value of Velavan Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Vallam village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Velavan Nagar has changed

The guideline value for Velavan Nagar has seen several revisions over the years. Starting from Rs 79 per sq.ft in 2007, it increased significantly to Rs 200 per sq.ft in 2012. However, it dropped to Rs 134 per sq.ft in 2017 before rising again to Rs 200 per sq.ft in both 2023 and the upcoming 2024 revision. The register has no figures for this street for the years 2002 and 2003.

In terms of percentage changes, from 2007 to 2012, there was a notable increase of 153%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, but remained unchanged from 2023 to 2024, resulting in an overall increase of 153% from 2007 to 2024.

Guideline values in Vallam

In Vallam village, there are 51 streets under the Sriperumpudur SRO, with 2024 guideline values ranging from Rs 150 to Rs 1,950 per sq.ft. The median guideline value is Rs 200 per sq.ft, which is the same as the current value for Velavan Nagar.

• Velalar street: Rs 300 per sq.ft (2024)
• Victoria Town: Rs 200 per sq.ft (2024)
• Vallakottai Velavan Nagar Extension: Rs 601 per sq.ft (2024)
• Vallakottai Velavan Nagar: Rs 200 per sq.ft (2024)
• Vallakottai Murugan Nagar: Rs 200 per sq.ft (2024)
• Vishnupriya Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Velavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. 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 further calculations.

Which Sub Registrar Office covers Velavan Nagar?

The Sub Registrar Office covering Velavan Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vallam. It serves as the basis for calculating stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Velavan Nagar?

The current guideline value of Velavan Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 79 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017, and has remained at Rs 200 per sq.ft in both 2023 and 2024.

What is the stamp duty rate in Velavan Nagar?

The stamp duty rate in Velavan Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Velavan Nagar?

The Sub Registrar Office for Velavan Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the median guideline value in Vallam?

The median guideline value in Vallam is Rs 200 per sq.ft, which is the same as the current guideline value for Velavan Nagar.