Guideline Value for Vellala 3nd Lane

Vellala 3nd Lane guideline value

The current guideline value of Vellala 3nd Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO, classified as Residential Class I Type - III.

How the guideline value of Vellala 3nd Lane has changed

The guideline value for Vellala 3nd Lane has undergone several revisions over the years. In 2007, the guideline value was Rs 1,200 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a 275% increase. However, by 2017, the value dropped to Rs 3,015 per sq.ft, representing a decrease of 33%. The value then rose again to Rs 4,500 per sq.ft in 2023, before reaching the current figure of Rs 4,900 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 308%. The revisions for the years 2002 and 2003 have no figures recorded for Vellala 3nd Lane in the register.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is equal to the current value for Vellala 3nd Lane.

• Vellala 2nd Lane: Rs 4,900 per sq.ft (2024)
• Vellala 4th Lane: Rs 4,900 per sq.ft (2024)
• Vellala Ist Lane: Rs 4,900 per sq.ft (2024)
• Vellala Street: Rs 5,500 per sq.ft (2024)
• Velankadu Pattai: Rs 4,400 per sq.ft (2024)
• Veerasamy Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vellala 3nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. 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 Vellala 3nd Lane?

The Sub Registrar Office that covers Vellala 3nd Lane is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair price and to avoid potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Vellala 3nd Lane?

The current guideline value of Vellala 3nd Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 1,200 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, which is an overall increase of 308% since 2007.

What is the registration office for Vellala 3nd Lane?

The registration office for Vellala 3nd Lane is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Vellala 3nd Lane?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 3,43,000 based on the current guideline value.

What are the other streets in Ayanavaram with similar guideline values?

Several other streets in Ayanavaram have the same guideline value of Rs 4,900 per sq.ft, including Vellala 2nd Lane, Vellala 4th Lane, and Veerasamy Street.