Guideline Value for Vellalar Street

Vellalar Street guideline value

The current guideline value of Vellalar Street in Noombal village, under the Kunrathur SRO, is Rs 2,090 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special 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 44 per sq.ft, which increased dramatically to Rs 1,273 per sq.ft in 2017, marking a change of +2793%. The 2023 revision set the value at Rs 1,900 per sq.ft, a +49% increase from the previous revision. The most recent revision in 2024 raised the guideline value to Rs 2,090 per sq.ft, reflecting a +10% change from 2023.

It is important to note that there are no figures available for the revisions in 2002, 2007, and 2012 for Vellalar Street. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by +4650%.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value is Rs 2,090 per sq.ft, which is the same as the current value for Vellalar Street.

• Velappan Nagar: Rs 2,090 per sq.ft (2024)
• Velappanchavadi Poovai High Road: Rs 4,290 per sq.ft (2024)
• Velappa Nagar: Rs 2,090 per sq.ft (2024)
• Venkada Samy Nagar: Rs 2,090 per sq.ft (2024)
• Venkatraman Nagar: Rs 2,090 per sq.ft (2024)
• T.V.K. Nagar Sangavathy Ammal Avenue: Rs 2,090 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 2,090 per sq.ft, the total guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vellalar Street?

The Vellalar Street is covered by the Kunrathur Sub Registrar Office located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Noombal. It serves as a benchmark for determining the registration fees and stamp duty payable at the time of property registration. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to accurately assess the financial implications of the transaction.

When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees. This value is essential for both parties involved in the transaction to understand their financial obligations and to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Vellalar Street?

The current guideline value of Vellalar Street is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 44 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, reflecting an overall increase of +4650% over the years.

What is the land classification for Vellalar Street?

Vellalar Street is classified under Residential Special Type - I.

Which office handles registrations for Vellalar Street?

The Kunrathur Sub Registrar Office handles registrations for Vellalar Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Vellalar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 20,90,000, the stamp duty would be Rs 1,46,300 at a rate of 7%.