Guideline Value for Cart Track Road

Cart Track Road guideline value

The current guideline value of Cart Track Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Cart Track Road has changed

In the 2017 revision, the guideline value was Rs 2,680 per sq.ft. This increased to Rs 4,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 for Cart Track Road. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which matches the current guideline value of Cart Track Road.

• Cart Track Lane: Rs 4,400 per sq.ft (2024)
• Cart Track Road (Vandikaran Street): Rs 4,400 per sq.ft (2024)
• Canara Bank Lane Sarathi Nagar: Rs 13,200 per sq.ft (2024)
• Bye Pass Road 150ft: Rs 13,200 per sq.ft (2024)
• Bye Pass Road -100 feet: Rs 13,200 per sq.ft (2024)
• Chakrabani Road/Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Cart Track Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cart Track Road?

The Sub Registrar Office that covers Cart Track Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is an important factor during property transactions in Velachery. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. It is essential for both buyers and sellers to be aware of the current guideline values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Cart Track Road?

The current guideline value of Cart Track Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64%, going from Rs 2,680 per sq.ft to Rs 4,400 per sq.ft in 2024. The most recent change was a 10% increase from Rs 4,000 per sq.ft in 2023.

What is the land classification of Cart Track Road?

Cart Track Road is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated on property transactions in Velachery?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. It is typically set at 7% of the guideline value, along with a registration fee of 2%.