Guideline Value for Vellappar 2nd Cross Street

Vellappar 2nd Cross Street guideline value

The current guideline value of Vellappar 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO, classified as Residential Class I Type - II.

How the guideline value of Vellappar 2nd Cross Street has changed

The guideline value for Vellappar 2nd Cross Street has undergone several revisions over the years. The oldest recorded figure is from 2017, set at Rs 1,340 per sq.ft. This value increased to Rs 2,000 per sq.ft in 2023, marking a 49% rise. The latest revision in 2024 shows an increase to Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

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, indicating that Vellappar 2nd Cross Street's 2024 figure is below the median.

• Vellappar 1st 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 2nd 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, totaling Rs 1,98,000. It is important to note that the 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 2nd Cross Street?

The Sub Registrar Office that covers Vellappar 2nd Cross Street is 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 in the registration process when buying or selling property in Thiruneermalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Vellappar 2nd Cross Street?

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

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, representing a total increase of 64% over this period.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Vellappar 2nd Cross Street?

The Pammal Sub Registrar Office handles property registrations for Vellappar 2nd Cross Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value?

The guideline value is used to determine the minimum value for property registration and is essential for calculating stamp duty and registration fees during property transactions.