Guideline Value for Vellalar Street

Vellalar Street guideline value

The current guideline value of Vellalar Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Aminjikarai village under the AnnaNagar SRO, classified as Residential Class II Type - I.

How the guideline value of Vellalar Street has changed

The guideline value for Vellalar Street has undergone several revisions over the years. Starting from Rs 650 per sq.ft in 2002, it increased significantly to Rs 2,000 per sq.ft in 2007, marking a rise of 208%. It then saw a substantial increase of 150% to Rs 5,000 per sq.ft in 2012. However, from 2012 to 2017, the value decreased by 33%, settling at Rs 3,350 per sq.ft. The value rose again by 49% to Rs 5,000 per sq.ft in 2023, and the most recent revision in 2024 has set it at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there is no figure for Vellalar Street in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 746%.

Guideline values in Aminjikarai

Aminjikarai village has a total of 99 streets under the AnnaNagar SRO, with guideline values in 2024 ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for the area is Rs 4,400 per sq.ft, placing Vellalar Street's 2024 figure above this median.

• Venkatasamy Puram puram: Rs 3,300 per sq.ft (2024)
• Venkataswamy Puram Street 1 to 10: Rs 3,300 per sq.ft (2024)
• Varasithi Vinayagar Koil Street: Rs 4,400 per sq.ft (2024)
• Vinai Theertha Vinayagar Street: Rs 4,400 per sq.ft (2024)
• T.P. Chathiram West Side 7th Street: Rs 3,800 per sq.ft (2024)
• T.P. Chathiram West Side 31st Street: Rs 3,800 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 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Aminjikarai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable duties and fees. Buyers should ensure they are aware of the current guideline value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Vellalar Street?

The current guideline value of Vellalar Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen multiple revisions, increasing from Rs 650 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 746% over the years.

What are the other streets in Aminjikarai with their guideline values?

Other streets in Aminjikarai have varying guideline values, with rates ranging from Rs 3,300 to Rs 16,500 per sq.ft. Vellalar Street's value is above the median of Rs 4,400 per sq.ft.

What is the stamp duty rate for properties in Vellalar Street?

The stamp duty rate for properties in Vellalar Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vellalar Street located?

The Sub Registrar Office for Vellalar Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.