Guideline Value for Five Furlong Road

Five Furlong Road guideline value

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

How the guideline value of Five Furlong Road has changed

The guideline value of Five Furlong Road has undergone several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 779 per sq.ft. This value increased to Rs 873 per sq.ft in 2003, marking a rise of 12%. The next revision in 2007 saw a significant jump to Rs 2,000 per sq.ft, reflecting an increase of 129%. In 2012, the guideline value rose to Rs 4,000 per sq.ft, a 100% increase from the previous revision. However, the value dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 brought the guideline value back up to Rs 4,400 per sq.ft, representing a 64% increase from 2017.

It is important to note that the register has no figure for this street for the year 2023.

Guideline values in Velachery

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

• Flim Street: Rs 4,950 per sq.ft (2024)
• Found Street: Rs 3,850 per sq.ft (2024)
• Ganagai Nagar Bye Pass Road: Rs 13,200 per sq.ft (2024)
• Ex-serviceman Colony 2nd Street: Rs 3,850 per sq.ft (2024)
• Ex-serviceman Colony 2nd Main Road: Rs 3,850 per sq.ft (2024)
• Ex-serviceman Colony 2nd Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Five Furlong 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, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For additional calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Five Furlong Road?

The Sub Registrar Office that covers Five Furlong 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

When buying or selling property in Velachery, the guideline value plays a crucial role during the registration process. It serves as a benchmark to determine the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair price.

Additionally, the guideline value affects the calculation of stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Five Furlong Road?

The current guideline value for Five Furlong Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 779 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 465% over this period.

What is the stamp duty for property in Five Furlong Road?

The stamp duty for property in Five Furlong Road is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Five Furlong Road located?

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

What are the other streets in Velachery with guideline values?

Other streets in Velachery include Flim Street, Found Street, Ganagai Nagar Bye Pass Road, and several streets in Ex-serviceman Colony, each with varying guideline values.