Guideline Value for Vellappar 3rd Cross Street

Vellappar 3rd Cross Street guideline value

The current guideline value of Vellappar 3rd 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 and is classified as Residential Class I Type - II.

How the guideline value of Vellappar 3rd Cross Street has changed

The guideline value for Vellappar 3rd Cross Street has undergone several revisions over the years. The oldest recorded revision is from 2017, where the value was Rs 1,340 per sq.ft. This figure increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that have 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, placing Vellappar 3rd Cross Street's 2024 figure below the median.

• Vellappar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Vellappar 1st 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 3rd 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, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vellappar 3rd Cross Street?

The Vellappar 3rd Cross Street is covered by 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 plays a crucial role in property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on it.

When registering a property, it is essential to ensure that the sale price is at least equal to the guideline value. This ensures compliance with local regulations and helps in determining the applicable taxes and fees.

Frequently asked questions

What is the current guideline value of Vellappar 3rd Cross Street?

The current guideline value of Vellappar 3rd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

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

What are the stamp duty and registration fees for properties in Vellappar 3rd Cross 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 Sub Registrar Office is responsible for Vellappar 3rd Cross Street?

The Pammal Sub Registrar Office covers Vellappar 3rd Cross Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Vellappar 3rd Cross Street?

Vellappar 3rd Cross Street is classified as Residential Class I Type - II.