Guideline Value for Velleeswarar Koil Street

Velleeswarar Koil Street guideline value

The current guideline value of Velleeswarar Koil Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Mangadu -A village, under the Kunrathur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Velleeswarar Koil Street has changed

Over the years, the guideline value of Velleeswarar Koil Street has seen significant changes. The 2017 revision recorded a guideline value of Rs 1,139 per sq.ft, which increased to Rs 1,700 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has set the value at Rs 1,870 per sq.ft, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2024 revision, the overall increase in guideline value is 64%. It is important to note that the register does not contain figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

Mangadu -A comprises 208 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value is Rs 1,870 per sq.ft, which is equal to the current guideline value of Velleeswarar Koil Street.

• Vasanthapuri Phase I: Rs 2,090 per sq.ft (2024)
• Vasanthapuram part III: Rs 2,090 per sq.ft (2024)
• Vasanthapuram: Rs 2,090 per sq.ft (2024)
• Vignesh Nagar: Rs 1,870 per sq.ft (2024)
• Vaikundaperumal Koil Street: Rs 1,430 per sq.ft (2024)
• Udhaya Nagar: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Velleeswarar Koil Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, totaling Rs 1,68,300. It is essential 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 Velleeswarar Koil Street?

The Sub Registrar Office that covers Velleeswarar Koil Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value plays a crucial role in the registration process when buying or selling property in Mangadu -A. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

Buyers and sellers must be aware that the guideline value is set by the government and reflects the minimum value at which property transactions can be registered. This ensures transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Velleeswarar Koil Street?

The current guideline value of Velleeswarar Koil Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,139 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2023, and then to Rs 1,870 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 18,70,000, the stamp duty would be Rs 1,30,900, and the registration fee would be Rs 37,400, totaling Rs 1,68,300.

Which office handles property registrations for Velleeswarar Koil Street?

The Kunrathur Sub Registrar Office handles property registrations for Velleeswarar Koil Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that properties are registered at a fair value set by the government.