Guideline Value for Gulmohar Avenue Velachery Main Road

Gulmohar Avenue Velachery Main Road guideline value

The current guideline value of Gulmohar Avenue Velachery Main Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Gulmohar Avenue Velachery Main Road has changed

The guideline value for Gulmohar Avenue Velachery Main Road has seen significant changes over the years. In the 2007 revision, the figure was Rs 2,000 per sq.ft, which increased dramatically to Rs 12,000 per sq.ft in both the 2012 and 2023 revisions. The 2024 revision reflects a further increase to Rs 13,200 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 560%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2017 for this street.

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 for these streets is Rs 4,400 per sq.ft, placing Gulmohar Avenue Velachery Main Road above this median.

• Gulmohar Avenue/Velachery Road: Rs 13,200 per sq.ft (2024)
• Gopal Street,Annai Indira Nagar: Rs 4,400 per sq.ft (2024)
• Housing Board Society Colony (Slum Board): Rs 3,850 per sq.ft (2024)
• Hutsan Avenue: Rs 5,500 per sq.ft (2024)
• Gopalapillai Street: Rs 4,950 per sq.ft (2024)
• Gopalakrishnan Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Gulmohar Avenue Velachery Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, while the registration fee at 2% would be Rs 2,64,000, bringing the total charges to Rs 11,88,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Gulmohar Avenue Velachery Main Road?

The Sub Registrar Office that covers Gulmohar Avenue Velachery Main 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 further assistance.

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

The guideline value plays a crucial role during property transactions in Velachery. It is the minimum value set by the government for registration purposes, ensuring that properties are not sold below this value. When a property is sold, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

Buyers and sellers should be aware that the guideline value can vary significantly between different streets and areas. It is advisable to check the latest guideline values to ensure compliance with registration regulations and to understand the financial implications of property transactions in Velachery.

Frequently asked questions

What is the current guideline value of Gulmohar Avenue Velachery Main Road?

The current guideline value of Gulmohar Avenue Velachery Main Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, marking an overall increase of 560% over the years.

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

Other streets in Velachery have varying guideline values, with Gulmohar Avenue/Velachery Road at Rs 13,200 per sq.ft, and others ranging from Rs 3,300 to Rs 5,500 per sq.ft.

What fees are associated with property transactions in Gulmohar Avenue Velachery Main Road?

For a property valued at Rs 1,32,00,000, the total stamp duty and registration fees would amount to Rs 11,88,000, based on the current guideline value.

Where can I find the Sub Registrar Office for Velachery?

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