Guideline Value for Vellai Chetty Street

Vellai Chetty Street guideline value

The current guideline value of Vellai Chetty Street is Rs 1,500 per sq.ft. This street is located in Uthiramerur village, under the jurisdiction of the Uthiramerur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Vellai Chetty Street has changed

The guideline value for Vellai Chetty Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 295 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, it saw a significant drop of 33% to Rs 536 per sq.ft in the 2017 revision. The value then rose sharply by 180% to Rs 1,500 per sq.ft in the 2023 revision, remaining unchanged in the 2024 revision.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 408%.

Guideline values in Uthiramerur

In Uthiramerur, there are 180 streets under the Uthiramerur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft. The median value for these streets is Rs 800 per sq.ft, placing Vellai Chetty Street's 2024 figure above that median.

• Veeraperumal Iyyangar Street: Rs 1,500 per sq.ft (2024)
• Vengadaiya Pillai Street: Rs 1,200 per sq.ft (2024)
• Vengdaperumal Noyidu Street: Rs 1,500 per sq.ft (2024)
• Vedapalayam Pandara Street: Rs 700 per sq.ft (2024)
• Vedapalayam Bangala Street: Rs 900 per sq.ft (2024)
• Vedapalayam Bajanai Koil Street: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Vellai Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, while the registration fee at 2% would be Rs 30,000. Together, these fees would total Rs 1,35,000. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vellai Chetty Street?

The Sub Registrar Office that covers Vellai Chetty Street is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is an important factor during the registration of property transactions in Uthiramerur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is registered, the guideline value is used to calculate the charges, ensuring that the fees reflect the official valuation of the property. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Vellai Chetty Street?

The current guideline value of Vellai Chetty Street is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 295 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2024, marking an overall increase of 408% over the years.

What are the registration fees for property in Vellai Chetty Street?

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000.

Which Sub Registrar Office is responsible for Vellai Chetty Street?

The Uthiramerur Sub Registrar Office is responsible for Vellai Chetty Street, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.

What is the land classification of Vellai Chetty Street?

Vellai Chetty Street is classified as Commercial Class I Type - I, indicating its designation for commercial activities.