Guideline Value for Vellalar Street

Vellalar Street guideline value

The current guideline value of Vellalar Street in Naduveerapattu village, under the Padappai SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Vellalar Street has changed

The guideline value for Vellalar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 500 per sq.ft, and the most recent 2024 revision raised it further to Rs 550 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Naduveerapattu

Naduveerapattu features 96 streets under the Padappai SRO, with guideline values ranging from Rs 330 to Rs 2,500 per sq.ft. The median guideline value in the village is Rs 660 per sq.ft, indicating that Vellalar Street's 2024 figure is below this median.

• Venkatajalapathy Avenue: Rs 550 per sq.ft (2024)
• Venugopal Nagar: Rs 440 per sq.ft (2024)
• Vanavil S.K.Avenue Part - VII: Rs 1,980 per sq.ft (2024)
• Vanavil S.K.Avenue Part - VI: Rs 1,980 per sq.ft (2024)
• Vanavil S.K.Avenue Part - V: Rs 1,650 per sq.ft (2024)
• Vanavil S.K.Avenue Part-IV: Rs 1,210 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. 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 details.

Which Sub Registrar Office covers Vellalar Street?

The Sub Registrar Office that covers Vellalar Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Naduveerapattu. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the Registration Department.

Frequently asked questions

What is the current guideline value of Vellalar Street?

The current guideline value of Vellalar Street is Rs 550 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 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification of Vellalar Street?

Vellalar Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Vellalar Street?

The Sub Registrar Office for Vellalar Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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 1,000 sq.ft plot at the current guideline value, the stamp duty at 7% would be Rs 38,500.