Guideline Value for Vellala Ist Lane

Vellala Ist Lane guideline value

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

How the guideline value of Vellala Ist Lane has changed

The guideline value for Vellala Ist Lane has seen several revisions over the years. In 2007, the value was set at Rs 1,200 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 275% rise. However, between 2012 and 2017, the value decreased to Rs 3,015 per sq.ft, reflecting a drop of 33%. The value then rose again to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft as of the 2024 revision, which is a 9% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 308%.

Guideline values in Ayanavaram

Ayanavaram village 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 value for these streets is Rs 4,900 per sq.ft, which is equal to the current guideline value of Vellala Ist Lane.

• Vellala 4th 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 Ist Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vellala Ist Lane?

The Vellala Ist Lane falls under 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 information.

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

The guideline value is a critical factor when registering property transactions in Ayanavaram. It is used to determine the stamp duty and registration fees that buyers must pay during the registration process.

When a property is sold, the guideline value ensures that the transaction is recorded at a value that reflects the official rates set by the government. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Vellala Ist Lane?

The current guideline value of Vellala Ist 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 1,200 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 308% over the years.

What is the land classification for Vellala Ist Lane?

Vellala Ist Lane is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Vellala Ist Lane?

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

Which office handles registrations for Vellala Ist Lane?

The AnnaNagar Sub Registrar Office handles registrations for Vellala Ist Lane, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.