Guideline Value for Velavan Nagar

Velavan Nagar guideline value

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

How the guideline value of Velavan Nagar has changed

The guideline value for Velavan Nagar has remained consistent at Rs 200 per sq.ft from the 2023 revision to the 2024 revision, indicating no change. Looking back further, the 2017 revision recorded a guideline value of Rs 134 per sq.ft, which reflects a significant increase of 49% to the current value in 2024.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%.

Guideline values in Vallam_B

In Vallam_B village, there are 73 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,950 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value of Velavan Nagar is below this median.

• Velalar street: Rs 300 per sq.ft (2024)
• Venkateswara Nagar: Rs 400 per sq.ft (2024)
• Vetri Nagar: Rs 400 per sq.ft (2024)
• Victoria Town: Rs 200 per sq.ft (2024)
• Victory Nagar: Rs 400 per sq.ft (2024)
• Vallakottai Velavan Nagar Extension: Rs 600 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 amounts to Rs 2,00,000. The stamp duty charged at 7% would be 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.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Velavan Nagar?

The Sub Registrar Office that covers 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 details.

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

When buying or selling property in Vallam_B, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that must be paid to the government.

The guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration of 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?

Since the 2017 revision, the guideline value has increased by 49%, from Rs 134 per sq.ft to Rs 200 per sq.ft in 2024. There has been no change from 2023 to 2024.

What is the land classification for Velavan Nagar?

Velavan Nagar falls under the Residential Class III Type - I land classification. This classification affects the guideline value and potential uses of the land.

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

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

How is the stamp duty calculated for property transactions in Velavan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 2,00,000, the stamp duty would be Rs 14,000 at a rate of 7%.