Guideline Value for Vellalar Street

Vellalar Street guideline value

The current guideline value of Vellalar Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Thandalam village, under the Pammal SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vellalar Street has changed

The guideline value for Vellalar Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 880 per sq.ft, an increase from Rs 800 per sq.ft in 2023, which reflects a 10% rise. Prior to that, the 2017 revision recorded a guideline value of Rs 536 per sq.ft, marking a significant increase of 49% when compared to the 2023 figure.

It is important to note that there are no recorded figures for Vellalar Street in the revisions of 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Thandalam

In Thandalam, there are 56 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 1,210 per sq.ft. Vellalar Street's 2024 figure is below this median.

• Vanigar Street (ward 3): Rs 990 per sq.ft (2024)
• Vanigar Street (ward 2): Rs 990 per sq.ft (2024)
• Valluvar Street: Rs 880 per sq.ft (2024)
• Vivekanandhar Street: Rs 880 per sq.ft (2024)
• Subham Avenue: Rs 1,210 per sq.ft (2024)
• S.S.Garden: Rs 1,480 per sq.ft (2024)

Stamp duty and registration fee for property in Vellalar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, leading to a total cost of Rs 79,200. It is important to note that the 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 Vellalar Street?

The Sub Registrar Office that covers Vellalar Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thandalam. 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 is used to calculate the stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with government regulations.

Frequently asked questions

What is the current guideline value of Vellalar Street?

The current guideline value of Vellalar Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 64% during this period.

What is the land classification of Vellalar Street?

Vellalar Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Vellalar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,80,000, the stamp duty at 7% would be Rs 61,600.