Guideline Value for Vellalar street

Vellalar street guideline value

The current guideline value of Vellalar street in Thirupachur village, under the Tiruvallur Joint 1 SRO, is Rs 550 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Vellalar street has changed

Over the years, the guideline value of Vellalar street has experienced several revisions. The earliest recorded figure is from 2007, where the value was Rs 50 per sq.ft. This saw a significant increase to Rs 550 per sq.ft in 2012. However, it then dropped to Rs 368 per sq.ft in 2017, before returning to Rs 550 per sq.ft in both 2023 and the upcoming 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2012, the value increased by 1000%, followed by a decrease of 33% from 2012 to 2017. Subsequently, there was a 49% increase from 2017 to 2023, and no change from 2023 to 2024. Overall, the guideline value has increased by 1000% from 2007 to 2024.

Guideline values in Thirupachur

In Thirupachur village, there are 19 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value is Rs 550 per sq.ft, which is the same as the 2024 figure for Vellalar street.

• Veda Vinayagar Nagar: Rs 626 per sq.ft (2024)
• Vaniya street: Rs 1,000 per sq.ft (2024)
• Vettaikaran street: Rs 1,000 per sq.ft (2024)
• Tiruttani Road: Rs 2,000 per sq.ft (2024)
• Tirupachur colony: Rs 550 per sq.ft (2024)
• Pookara street/kavari street: Rs 1,000 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty is charged at 7%, which equals Rs 38,500, and the registration fee is 2%, amounting to Rs 11,000. Together, the total costs for stamp duty and registration fee would be 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 our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Vellalar street?

The Sub Registrar Office that covers Vellalar street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

When buying or selling property in Thirupachur, the guideline value is an essential factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the property’s worth, ensuring that the transaction is recorded accurately at the Sub Registrar Office.

It is crucial for buyers and sellers to be aware of the current guideline values, as these figures influence the overall costs associated with property transactions. Proper understanding of the guideline value can help in making informed decisions during the buying or selling process.

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 seen several revisions, with significant changes, including a 1000% increase from Rs 50 per sq.ft in 2007 to Rs 550 per sq.ft in 2012, and a return to Rs 550 per sq.ft in both 2023 and 2024.

What is the land classification for Vellalar street?

The land classification for Vellalar street is Residential Class II Type - II.

What are the stamp duty and registration fees for property in Vellalar street?

For a property valued at Rs 5,50,000, the stamp duty is Rs 38,500 and the registration fee is Rs 11,000, totaling Rs 49,500.

Which office handles the registration for Vellalar street?

The Tiruvallur Joint 1 Sub Registrar Office handles the registration for Vellalar street, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.