Guideline Value for Velingapattarai Street

Velingapattarai Street guideline value

The current guideline value of Velingapattarai Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in the 2nd Division village under the Kanchipuram Joint IV SRO, classified as Residential Class I Type - II.

How the guideline value of Velingapattarai Street has changed

The guideline value for Velingapattarai Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,700 per sq.ft, which was followed by a decrease to Rs 1,139 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,700 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 1,870 per sq.ft, representing a 10% increase from the previous year.

It is important to note that the register has no figures for Velingapattarai Street for the years 2002, 2003, and 2007.

Guideline values in 2nd Division

In the 2nd Division village, there are 101 streets under the Kanchipuram Joint IV SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 11,000 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, placing Velingapattarai Street's 2024 figure above this median.

• Vegavathi Road: Rs 880 per sq.ft (2024)
• Vazhakarutheeswarar Koil Street: Rs 5,500 per sq.ft (2024)
• Vallal Pachaiyappan Street Santhu (a) Back: Rs 5,500 per sq.ft (2024)
• Vallal Pachaiyappan Street: Rs 5,500 per sq.ft (2024)
• Vallal Pachaiyappan Santhu: Rs 3,300 per sq.ft (2024)
• Vaikumdapuram Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Velingapattarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, while the registration fee at 2% would be Rs 37,400, leading to a total of Rs 1,68,300. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Velingapattarai Street?

The Sub Registrar Office that covers Velingapattarai Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

You can find your SRO for more information.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value is an essential factor in the registration process when buying or selling property in the 2nd Division. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized valuation of the property.

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 and fees. This ensures that the registration process is transparent and consistent across different properties.

Frequently asked questions

What is the current guideline value of Velingapattarai Street?

The current guideline value of Velingapattarai Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2012 to Rs 1,139 per sq.ft in 2017, then increased to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,870 per sq.ft in 2024.

What is the land classification of Velingapattarai Street?

Velingapattarai Street is classified as Residential Class I Type - II.

Where can I find the registration office for Velingapattarai Street?

The registration office for Velingapattarai Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

How is stamp duty calculated for properties in Velingapattarai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be calculated accordingly.