Guideline Value for Vellalar Street

Vellalar Street guideline value

The current guideline value of Vellalar Street, located in Thiruneermalai village under the Pammal SRO, is Rs 2,420 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Vellalar Street has changed

The guideline value for Vellalar Street has seen significant changes over the years. In the 2003 revision, the value was Rs 294 per sq.ft, which increased to Rs 350 per sq.ft in 2007. The 2017 revision marked a substantial rise, with the value reaching Rs 1,474 per sq.ft, an increase of 321% from 2007. The 2023 revision set the value at Rs 2,200 per sq.ft, a 49% increase from 2017. The latest revision in 2024 has further increased the value to Rs 2,420 per sq.ft, reflecting a 10% rise from the previous year.

There are no figures available for the years 2002 and 2012 in the register for Vellalar Street. Overall, from 2003 to 2024, the guideline value has increased by 723%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value is Rs 2,420 per sq.ft, which is the same as Vellalar Street's current value.

• Vellappar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Vellappar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Vellappar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Velappar 2nd Street: Rs 2,200 per sq.ft (2024)
• Velappar 1st Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 1st Cross Street: Rs 1,980 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 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, totaling Rs 2,17,800. 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 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, within the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Thiruneermalai. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vellalar Street?

The current guideline value of Vellalar Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Over the years, the guideline value has increased significantly, from Rs 294 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, marking an overall increase of 723%.

What are the stamp duty and registration fees for property in Vellalar Street?

For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400, and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Which office handles the registration for Vellalar Street?

The Pammal Sub Registrar Office handles the registration for Vellalar Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Vellalar Street?

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