Guideline Value for Vellala 4th Lane

Vellala 4th Lane guideline value

The current guideline value for Vellala 4th 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 4th Lane has changed

The guideline value for Vellala 4th Lane has seen several revisions over the years. In 2002, the value was Rs 467 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2007, marking a 285% rise. Following this, the value rose by 150% to Rs 4,500 per sq.ft in 2012, before decreasing by 33% to Rs 3,015 per sq.ft in 2017. The value then increased by 49% to Rs 4,500 per sq.ft in 2023, and finally, it rose by 9% to the current rate of Rs 4,900 per sq.ft in 2024.

It is important to note that there is no guideline value figure available for Vellala 4th Lane in the year 2003. Overall, from 2002 to 2024, the guideline value has increased by 949%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, which is equal to the current guideline value for Vellala 4th Lane.

• Vellala Ist Lane: Rs 4,900 per sq.ft (2024)
• Vellala 3nd Lane: Rs 4,900 per sq.ft (2024)
• Vellala 2nd 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 4th 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 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 4th Lane?

The Sub Registrar Office that covers Vellala 4th Lane is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

When buying or selling property in Ayanavaram, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is the minimum value set by the government for property transactions, and it is used to calculate the applicable taxes during the registration process.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall cost of the transaction. Proper understanding of these values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Vellala 4th Lane?

The current guideline value of Vellala 4th 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 changed significantly from Rs 467 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, showing an overall increase of 949%.

What is the role of the AnnaNagar SRO?

The AnnaNagar SRO is responsible for maintaining the guideline value register and overseeing property registrations in the Ayanavaram area, including Vellala 4th Lane.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 49,00,000, the stamp duty is Rs 3,43,000, and the registration fee is Rs 98,000, totaling Rs 4,41,000.

How can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the relevant link provided, which will guide you to the appropriate office based on your location.