Guideline Value for Vellalar Street

Vellalar Street guideline value

The current guideline value of Vellalar Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and 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 several revisions over the years. In the 2012 revision, the value was Rs 3,300 per sq.ft, which decreased to Rs 2,211 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 3,300 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,600 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value in this area is Rs 3,600 per sq.ft, which is equal to the current value of Vellalar Street.

• Velankanni Street: Rs 1,400 per sq.ft (2024)
• Vengadachalam Street: Rs 4,000 per sq.ft (2024)
• Vengatramaier Street: Rs 4,000 per sq.ft (2024)
• Venkatapuram Thulukanathamman street: Rs 4,000 per sq.ft (2024)
• Venkataraman Iyar Street: Rs 4,000 per sq.ft (2024)
• Venkataraman Naidu street: Rs 4,000 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 3,600 per sq.ft, the total guideline value amounts to Rs 36,00,000. The stamp duty at 7% would be Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, bringing the total cost to Rs 3,24,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information on fees applicable to your property transaction.

Which Sub Registrar Office covers Vellalar Street?

The Sub Registrar Office covering Vellalar Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Ambattur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with legal requirements.

During the registration process, the guideline value is used to calculate applicable fees such as stamp duty and registration fees. It is essential for both parties to be aware of the guideline value to avoid disputes and ensure a smooth transaction.

Frequently asked questions

What is the current guideline value of Vellalar Street?

The current guideline value of Vellalar Street is Rs 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2012 to Rs 2,211 per sq.ft in 2017, then back to Rs 3,300 per sq.ft in 2023, and finally to Rs 3,600 per sq.ft in 2024.

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

For a property valued at Rs 36,00,000, the stamp duty would be Rs 2,52,000 and the registration fee would be Rs 72,000, totaling Rs 3,24,000.

Which office handles the registration of properties in Vellalar Street?

The registration of properties in Vellalar Street is handled by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum price for property registration and is essential for calculating stamp duty and registration fees during property transactions.