Guideline Value for Velmurugan Nagar extention

Velmurugan Nagar extention guideline value

The current guideline value of Velmurugan Nagar extention is Rs 2,201 per sq.ft, effective from 1 July 2024. This area is located in Puthagaram village under the Ambattur SRO, and the land classification is Mixed Type - I.

How the guideline value of Velmurugan Nagar extention has changed

In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, marking a 49% rise. The latest revision in 2024 brought the guideline value to Rs 2,201 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Puthagaram

Puthagaram village has 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, placing Velmurugan Nagar extention's 2024 figure above this median.

• Velmurugan Nagar: Rs 2,201 per sq.ft (2024)
• Vetri Nagar: Rs 1,600 per sq.ft (2024)
• Vanavan Nagar Extention: Rs 2,200 per sq.ft (2024)
• Vanavan Nagar: Rs 2,200 per sq.ft (2024)
• Valluvar Street: Rs 1,600 per sq.ft (2024)
• Vallalar Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Velmurugan Nagar extention

For a 1,000 sq.ft plot at the current rate of Rs 2,201 per sq.ft, the guideline value amounts to Rs 22,01,000. The stamp duty at 7% would be Rs 1,54,070, and the registration fee at 2% would be Rs 44,020, bringing the total to Rs 1,98,090. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on fees applicable to your property.

Which Sub Registrar Office covers Velmurugan Nagar extention?

The Sub Registrar Office that covers Velmurugan Nagar extention is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling a property in Puthagaram, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally compliant.

Frequently asked questions

What is the current guideline value of Velmurugan Nagar extention?

The current guideline value of Velmurugan Nagar extention is Rs 2,201 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: from Rs 2,000 in 2012 to Rs 1,340 in 2017, then rising to Rs 2,000 in 2023, and finally reaching Rs 2,201 in 2024.

What is the land classification of Velmurugan Nagar extention?

The land classification of Velmurugan Nagar extention is Mixed Type - I.

What are the other streets in Puthagaram with their guideline values?

Other streets in Puthagaram include Vetri Nagar at Rs 1,600 per sq.ft, Vanavan Nagar Extention at Rs 2,200 per sq.ft, and Valluvar Street at Rs 1,600 per sq.ft, among others.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.