Guideline Value for Vellappar 1st Cross Street

Vellappar 1st Cross Street guideline value

The current guideline value of Vellappar 1st Cross Street is Rs 2,200 per sq.ft. This street is located in Thiruneermalai village under the Pammal SRO, classified as Residential Class I Type - II.

How the guideline value of Vellappar 1st Cross Street has changed

The guideline value for Vellappar 1st Cross Street has seen several revisions over the years. The most recent revision effective from 1 July 2024 set the guideline value at Rs 2,200 per sq.ft, an increase from Rs 2,000 per sq.ft in the 2023 revision, marking a change of +10%. Prior to that, in the 2017 revision, the guideline value was Rs 1,340 per sq.ft, reflecting a significant increase of +49% to reach the 2023 figure.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by +64%.

Guideline values in Thiruneermalai

In Thiruneermalai village, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, making the 2024 figure for Vellappar 1st Cross Street below that median.

• Vellappar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Vellappar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Vellalar Street: Rs 2,420 per sq.ft (2024)
• Velappar 2nd Street: Rs 2,200 per sq.ft (2024)
• Velappar 1st Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 1st Cross Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Vellappar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vellappar 1st Cross Street?

The Vellappar 1st Cross Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property in Thiruneermalai. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Vellappar 1st Cross Street?

The current guideline value of Vellappar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of +64%.

What is the land classification for Vellappar 1st Cross Street?

Vellappar 1st Cross Street is classified as Residential Class I Type - II.

Where can I find the registration office for Vellappar 1st Cross Street?

The registration office for Vellappar 1st Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Thiruneermalai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.