Guideline Value for Vellaiyan Road

Vellaiyan Road guideline value

The current guideline value of Vellaiyan Road is Rs 10,500 per sq.ft, effective from 1 July 2024. This road is located in Adayar village, under the Adayar SRO, and is classified as Commercial Class I Type - III.

How the guideline value of Vellaiyan Road has changed

Over the years, the guideline value of Vellaiyan Road has seen several revisions. The 2007 revision set the value at Rs 9,000 per sq.ft, which increased to Rs 9,500 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 6,365 per sq.ft, marking a decrease of 33%. The subsequent revisions saw a significant increase, with the 2023 revision setting the value at Rs 9,500 per sq.ft, and the latest 2024 revision raising it to Rs 10,500 per sq.ft, an increase of 11% from the previous year.

Between the revisions, the overall change from 2007 to 2024 is an increase of 17%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Adayar

Adayar village features 92 streets under the Adayar SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value in this area is Rs 6,100 per sq.ft, making the current figure for Vellaiyan Road above the median.

• Velacheri Road: Rs 10,500 per sq.ft (2024)
• Varathapuram Thideer Nagar: Rs 5,500 per sq.ft (2024)
• Varathapuram 2nd Street: Rs 6,600 per sq.ft (2024)
• Varathapuram 1st Street: Rs 6,600 per sq.ft (2024)
• Valliammai Achi Road (Kotturpuram): Rs 11,000 per sq.ft (2024)
• Upparpalayam Anna Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vellaiyan Road

For a 1,000 sq.ft plot at the current guideline value of Rs 10,500 per sq.ft, the total guideline value amounts to Rs 1,05,00,000. The stamp duty at 7% would be Rs 7,35,000, and the registration fee at 2% would be Rs 2,10,000, totaling Rs 9,45,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vellaiyan Road?

The Sub Registrar Office that covers Vellaiyan Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Adayar. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these fees are based on a standardized value rather than the negotiated sale price.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the costs associated with the transaction. Buyers should ensure they are prepared for the financial implications of the guideline value when planning their property purchases.

Frequently asked questions

What is the current guideline value of Vellaiyan Road?

The current guideline value of Vellaiyan Road is Rs 10,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 9,000 per sq.ft in 2007 to Rs 10,500 per sq.ft in 2024, reflecting an overall increase of 17% over the years.

What are the stamp duty and registration fees for Vellaiyan Road?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 9,45,000.

Where is the Sub Registrar Office for Vellaiyan Road?

The Adayar Sub Registrar Office, which covers Vellaiyan Road, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification for Vellaiyan Road?

Vellaiyan Road is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.