It could be a movie, a book or some other form of media. Without more context, it's hard to say exactly. Maybe it's a story that has real - life events as its foundation, perhaps a drama about a person's real - life experiences or a historical account presented in a creative way.
One example could be 'Schindler's List', which is based on the true story of Oskar Schindler who saved many Jews during the Holocaust. Another is 'The Blind Side', which is based on the real - life story of Leigh Anne Tuohy and Michael Oher. There's also 'A Beautiful Mind' that is based on the true story of John Nash.
Since I don't know the details of the 'vellam real story', it's difficult to give a proper account. It might be about a person named Vellam, or it could be related to a place or an event. If you can give some more context, like where it comes from or what kind of story it is (e.g. a historical, a fictional - but based on real events), it would be easier to answer.
As I don't know the actual Vellam real story, I can't say for sure what the key elements are. It could be characters, a particular setting, or a sequence of events that are important.
Yes, '1408' is based on a true story. The story was inspired by a Stephen King short story of the same name. It's about a man who stays in a supposedly haunted hotel room, Room 1408, and experiences terrifying and inexplicable events.
Well, it's a bit of a mix. While it may be inspired by some true elements from 1899 such as the general state of the world, sea travel, and social hierarchies at that time, it also has a lot of fictional elements added for the sake of drama and mystery. For example, the overarching mystery plot might be a creative take on some historical uncertainties, but not directly based on a single true story.
In many cases, 'True Story' is indeed drawn from actual happenings. The creators might take some artistic liberties, but the core elements are rooted in truth.