Guideline Value for Vellangani Street

Vellangani Street guideline value

The current guideline value of Vellangani Street is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO, classified as Residential Class III Type - II.

How the guideline value of Vellangani Street has changed

The guideline value for Vellangani Street has seen significant changes over the years. In 2002, the guideline value was Rs 126 per sq.ft, which increased to Rs 143 per sq.ft in 2003, marking a change of +13%. By 2007, the value rose to Rs 260 per sq.ft, reflecting an increase of +82%. However, from 2007 to 2023, the guideline value surged to Rs 1,600 per sq.ft, a remarkable increase of +515%. The most recent revision in 2024 set the value at Rs 1,760 per sq.ft, which is an increase of +10% from the previous year.

There are no figures available for Vellangani Street in the revisions for 2012 and 2017. Overall, from 2002 to 2024, the guideline value has increased by +1297%, showcasing the substantial growth in this area over the years.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in this area is Rs 2,090 per sq.ft, placing Vellangani Street's 2024 value below the median.

• Velmurugan Street: Rs 1,760 per sq.ft (2024)
• Veeraragavan Street /Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Veerapandya Kattabooman Street / Muthumazhi Nagar: Rs 2,475 per sq.ft (2024)
• Veeramani Street / Thriuvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Veeramamunivar Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Venkatachalam Street /Gandhi Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Vellangani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, totaling Rs 1,58,400. 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 more details.

Which Sub Registrar Office covers Vellangani Street?

The Sub Registrar Office that covers Vellangani Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pammal. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vellangani Street?

The current guideline value of Vellangani Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 126 per sq.ft to Rs 1,760 per sq.ft in 2024, representing an overall increase of +1297%.

What is the registration office for Vellangani Street?

The registration office for Vellangani Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Vellangani 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 total stamp duty would be Rs 1,23,200.

What are the other streets in Pammal with similar guideline values?

Other streets in Pammal include Velmurugan Street at Rs 1,760 per sq.ft, and several others ranging from Rs 2,475 to Rs 2,530 per sq.ft as of 2024.