Guideline Value for Velu Nagar 4th Street

Velu Nagar 4th Street guideline value

The current guideline value of Velu Nagar 4th Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village under the Tambaram Joint 1 SRO, classified as Residential Class II Type - I.

How the guideline value of Velu Nagar 4th Street has changed

The guideline value for Velu Nagar 4th Street has undergone several revisions over the years. The earliest recorded revision is from 2012, which set the value at Rs 1,000 per sq.ft. In 2017, the value decreased to Rs 670 per sq.ft, marking a reduction of 33%. However, by the 2023 revision, the value increased to Rs 1,000 per sq.ft, and further rose to Rs 1,100 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 1,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, indicating that the guideline value for Velu Nagar 4th Street is below this median.

• Velu Nagar 4th Cross Street: Rs 1,100 per sq.ft (2024)
• Velu Nagar 5th Street: Rs 1,100 per sq.ft (2024)
• Velu Nagar 3rd Street: Rs 1,100 per sq.ft (2024)
• Velu Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Velu Nagar 1st Street: Rs 1,100 per sq.ft (2024)
• Venkataswami 1st Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Velu Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Velu Nagar 4th Street?

The Sub Registrar Office that covers Velu Nagar 4th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are recorded fairly and transparently.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Velu Nagar 4th Street?

The current guideline value of Velu Nagar 4th Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the median guideline value in Peerklankaranai?

The median guideline value in Peerklankaranai is Rs 1,650 per sq.ft, while Velu Nagar 4th Street's value is below this median.

What are the stamp duty rates applicable in Velu Nagar 4th Street?

The stamp duty rate applicable in Velu Nagar 4th Street is 7%, calculated on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Velu Nagar 4th Street located?

The Sub Registrar Office for Velu Nagar 4th Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.