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Guideline Value

Corporate

Guideline Value for Housing Board Society Colony (Slum Board)

₹3850/sq.ft.

The guideline value for Housing Board Society Colony (slum Board) in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 ₹1500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹194 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹173 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Housing Board Society Colony (slum Board)

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Housing Board Society Colony (Slum Board) guideline value

The current guideline value for Housing Board Society Colony (Slum Board) is Rs 3,850 per sq.ft, effective from 1 July 2024. This colony is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Housing Board Society Colony (Slum Board) has changed

The guideline value for Housing Board Society Colony (Slum Board) has seen significant changes over the years. In 2002, the guideline value was Rs 173 per sq.ft, which increased to Rs 194 per sq.ft in 2003, marking a 12% increase. By 2007, the value rose dramatically to Rs 1,500 per sq.ft, reflecting a substantial 673% increase from the previous revision. However, there are no figures recorded for the years 2012 and 2017.

Following the 2007 revision, the value continued to rise, reaching Rs 3,500 per sq.ft in 2023, which is a 133% increase from 2007. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 2,125%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with the 2024 guideline values 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 Housing Board Society Colony (Slum Board) below this median.

Stamp duty and registration fee for property in Housing Board Society Colony (Slum Board)

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Housing Board Society Colony (Slum Board)?

The Housing Board Society Colony (Slum Board) falls under the jurisdiction of 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 a critical factor in property transactions in Velachery. It is used to determine the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must refer to the latest guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This ensures that all transactions are recorded accurately and transparently, reflecting the true value of the property as per the local regulations.

Frequently asked questions

What is the current guideline value for Housing Board Society Colony (Slum Board)?

The current guideline value for Housing Board Society Colony (Slum Board) is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 173 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, representing an overall increase of 2,125%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles property registrations in Velachery?

The Velacheri Sub Registrar Office handles property registrations in Velachery. Its address is No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value determined for properties in Velachery?

The guideline value is determined based on various factors, including land classification and historical revisions. It is updated periodically to reflect changes in the real estate market and is used to calculate stamp duty and registration fees.