Guideline Value for Vellala Street Samy Nagar Extension

Vellala Street Samy Nagar Extension guideline value

The current guideline value for Vellala Street Samy Nagar Extension is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village and falls under the Alandur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vellala Street Samy Nagar Extension has changed

The guideline value for Vellala Street Samy Nagar Extension has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 174 per sq.ft. This increased to Rs 195 per sq.ft in 2003, marking a 12% rise. Following this, the value saw a significant jump to Rs 1,000 per sq.ft in 2007, which was an increase of 413%. The 2012 revision saw the value remain at Rs 2,500 per sq.ft, indicating no change. However, from 2012 to 2017, the value dropped by 33% to Rs 1,675 per sq.ft. In 2023, the value rose to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,800 per sq.ft, reflecting a 12% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1509%. There are no figures available for the revisions between the years listed above that do not have a recorded value for this street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, which is equal to the current guideline value for Vellala Street Samy Nagar Extension.

• Vembuli Amman Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Vempuli Amman Koil Street: Rs 2,800 per sq.ft (2024)
• Venkatasamy Street: Rs 3,900 per sq.ft (2024)
• Venkatesa Nagar: Rs 3,900 per sq.ft (2024)
• Venkat Narayana Street: Rs 3,900 per sq.ft (2024)
• Vanuvam Pettai Main Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vellala Street Samy Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost for these fees to Rs 2,52,000. Please note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vellala Street Samy Nagar Extension?

The Sub Registrar Office that covers Vellala Street Samy Nagar Extension is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ullagaram. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value helps set a standard for property transactions in the area. This ensures transparency and fairness in the registration process, allowing both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Vellala Street Samy Nagar Extension?

The current guideline value of Vellala Street Samy Nagar Extension is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 174 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, representing an overall increase of 1509% over this period.

What is the land classification for Vellala Street Samy Nagar Extension?

The land classification for Vellala Street Samy Nagar Extension is Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, on a property valued at Rs 28,00,000, the total stamp duty and registration fees would amount to Rs 2,52,000.