Guideline Value for Vellalar Cross Street

Vellalar Cross Street guideline value

The current guideline value of Vellalar Cross Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Vellalar Cross Street has changed

The guideline value for Vellalar Cross Street has undergone several revisions over the years. In 2012, the guideline value was Rs 4,500 per sq.ft. This figure then changed to Rs 3,015 per sq.ft in 2017, marking a decrease of 33%. In 2023, the value increased to Rs 4,500 per sq.ft, and in the latest revision for 2024, it rose to Rs 5,000 per sq.ft, reflecting an increase of 11% from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for Vellalar Cross Street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a guideline value for 2024, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Vellalar Cross Street's 2024 figure above this median.

• Vellalar Street 2nd Street: Rs 5,000 per sq.ft (2024)
• Vellalar Street Main: Rs 5,000 per sq.ft (2024)
• Vel Nagar 1st Street: Rs 3,900 per sq.ft (2024)
• Vel Nagar 2nd Street: Rs 3,900 per sq.ft (2024)
• Vel Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Vel Nagar Extension: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vellalar Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, leading to a total of Rs 4,50,000. 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 detailed calculations.

Which Sub Registrar Office covers Vellalar Cross Street?

The Sub Registrar Office that covers Vellalar Cross Street 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 Adambakkam

The guideline value plays a crucial role during the registration of property transactions in Adambakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vellalar Cross Street?

The current guideline value of Vellalar Cross Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then back to Rs 4,500 per sq.ft in 2023, and finally to Rs 5,000 per sq.ft in 2024.

What is the registration office for Vellalar Cross Street?

The registration office for Vellalar Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the stamp duty rates for properties in Vellalar Cross Street?

The stamp duty for properties in Vellalar Cross Street is 7% of the guideline value or sale price, whichever is higher. There is also a registration fee of 2% applicable.

Where can I find more information about guideline values in Adambakkam?

For more information about guideline values in Adambakkam, you can refer to the registration department's guideline value register or visit the Alandur Sub Registrar Office.