Guideline Value for Vellalar Street

Vellalar Street guideline value

The current guideline value of Vellalar Street in Irumpuliyur village is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Vellalar Street has changed

The guideline value of Vellalar Street has undergone several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, there was a decrease to Rs 536 per sq.ft in 2017. Following this, the value rose significantly to Rs 800 per sq.ft in 2023, and then further increased to Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 76%. The register does not include figures for the years 2002 and 2003 for Vellalar Street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Vellalar Street is below this median.

• Velacherry Road: Rs 6,600 per sq.ft (2024)
• Veerapatran Street: Rs 2,530 per sq.ft (2024)
• Vedan Kannappar Street: Rs 1,650 per sq.ft (2024)
• Vaniyan Kutti Street: Rs 1,650 per sq.ft (2024)
• Vijayaganapathy Street: Rs 880 per sq.ft (2024)
• Vaigai Street: Rs 2,530 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 would be Rs 8,80,000. The stamp duty, charged at 7%, would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, resulting in a total of Rs 79,200. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vellalar Street?

The Sub Registrar Office that covers Vellalar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Irumpuliyur. It is used to determine the stamp duty and registration fees that buyers must pay when acquiring property. This ensures that the government receives appropriate revenue from property transactions.

When selling property, the guideline value helps establish a baseline for the sale price, ensuring that both parties are aware of the minimum value recognized by the authorities. This can help in negotiating the sale price and understanding the associated costs.

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 changed from Rs 500 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting a 76% increase over this period.

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

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles property registration for Vellalar Street?

The Tambaram Joint 1 Sub Registrar Office handles property registration for Vellalar Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the median guideline value in Irumpuliyur?

The median guideline value for streets in Irumpuliyur is Rs 2,200 per sq.ft, while Vellalar Street's guideline value is below this median.