Guideline Value for Vellalar Street

Vellalar Street guideline value

The current guideline value of Vellalar Street is Rs 226 per sq.ft, effective from 1 July 2024. This street is located in Sigadivakkam village under the Sunguvarchattram SRO, classified as Residential Class I Type - I.

How the guideline value of Vellalar Street has changed

Over the years, the guideline value of Vellalar Street has seen several revisions. The 2012 revision set the value at Rs 225 per sq.ft, which then decreased to Rs 151 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 226 per sq.ft, a figure that remained unchanged in the 2023 revision.

As of the 2024 revision, the guideline value remains at Rs 226 per sq.ft, indicating no change from the previous year. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Sigadivakkam

In Sigadivakkam, there are 11 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 181 to Rs 1,200 per sq.ft. The median guideline value for these streets is Rs 226 per sq.ft, which is equal to the current guideline value of Vellalar Street.

• Thulasi nagar: Rs 500 per sq.ft (2024)
• Palla street: Rs 181 per sq.ft (2024)
• Mettu street: Rs 181 per sq.ft (2024)
• Kulakkarai Street: Rs 181 per sq.ft (2024)
• Kancheepuram Cheenai Road: Rs 500 per sq.ft (2024)
• Kamachiamman Nagar: Rs 226 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 226 per sq.ft, the total guideline value amounts to Rs 2,26,000. The stamp duty at 7% would be Rs 15,820, and the registration fee at 2% would be Rs 4,520, bringing the total charges to Rs 20,340. It is essential 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor when registering properties in Sigadivakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for transactions. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Vellalar Street?

The current guideline value of Vellalar Street is Rs 226 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 225 per sq.ft in 2012 to Rs 151 per sq.ft in 2017, then back to Rs 226 per sq.ft in 2023 and 2024, showing no overall change from 2012 to 2024.

What is the land classification of Vellalar Street?

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

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

For a property valued at Rs 2,26,000, the stamp duty would be Rs 15,820 and the registration fee would be Rs 4,520, totaling Rs 20,340.

Where is the Sub Registrar Office located for Vellalar Street?

The Sub Registrar Office for Vellalar Street is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.