Guideline Value for Vellerithangal Lane

Vellerithangal Lane guideline value

The current guideline value of Vellerithangal Lane is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Konnur village under the Konnur SRO, classified as Residential Class II Type - I.

How the guideline value of Vellerithangal Lane has changed

The guideline value for Vellerithangal Lane has seen several revisions over the years. In the 2003 revision, the value was Rs 477 per sq.ft, which increased to Rs 800 per sq.ft in 2007. The 2012 revision saw a rise to Rs 3,500 per sq.ft, but this was followed by a decrease to Rs 2,345 per sq.ft in 2017. The value then increased significantly to Rs 3,500 per sq.ft in 2023, and finally, in the 2024 revision, it reached Rs 3,800 per sq.ft. The changes between these revisions include a 49% increase from 2017 to 2023, a 9% increase from 2023 to 2024, and a notable 338% increase from 2007 to 2012.

It is important to note that there is no figure available for the year 2002 for this street in the register. Overall, the guideline value has increased by 697% from 2003 to 2024.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with a median value of Rs 3,800 per sq.ft. Vellerithangal Lane's 2024 figure is equal to this median.

• Vellalar Street: Rs 5,500 per sq.ft (2024)
• Velumani Street: Rs 3,800 per sq.ft (2024)
• Veeraranga Street: Rs 3,800 per sq.ft (2024)
• Venture Garden: Rs 3,500 per sq.ft (2024)
• Vetriselvi Shri Ranga Street: Rs 5,500 per sq.ft (2024)
• Vettri Selvi Anbazhagan Nagar: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vellerithangal Lane

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, together totaling Rs 3,42,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vellerithangal Lane?

The Sub Registrar Office that covers Vellerithangal Lane is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Konnur. It determines the amount of stamp duty and registration fees that need to be paid, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the property's value in the market.

Frequently asked questions

What is the current guideline value of Vellerithangal Lane?

The current guideline value of Vellerithangal Lane is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 477 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, marking a significant increase of 697% over this period.

What are the stamp duty and registration fees for properties in Vellerithangal Lane?

For a 1,000 sq.ft plot, the guideline value is Rs 38,00,000. The stamp duty at 7% is Rs 2,66,000, and the registration fee at 2% is Rs 76,000, totaling Rs 3,42,000.

Which Sub Registrar Office covers Vellerithangal Lane?

The Konnur Sub Registrar Office covers Vellerithangal Lane, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification of Vellerithangal Lane?

Vellerithangal Lane is classified as Residential Class II Type - I, indicating its suitability for residential development.