Guideline Value

Corporate

Guideline Value for Joseph Colony : -

₹4400/sq.ft.

The guideline value for Joseph Colony : - in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹269 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹240 /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 Joseph Colony : -

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Joseph Colony : - guideline value

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

How the guideline value of Joseph Colony : - has changed

The guideline value for Joseph Colony has undergone several revisions over the years. Starting with Rs 240 per sq.ft in 2002, it increased to Rs 269 per sq.ft in 2003. The value saw a significant jump to Rs 1,800 per sq.ft in 2007, followed by another rise to Rs 2,680 per sq.ft in 2017. The most recent revisions show the value at Rs 4,000 per sq.ft in 2023 and Rs 4,400 per sq.ft in 2024.

Notably, the guideline value increased by 10% from 2023 to 2024. The change from 2017 to 2023 was a substantial 49%, as was the increase from 2007 to 2017. The most remarkable change occurred between 2003 and 2007, with an increase of 569%. Overall, from 2002 to 2024, the guideline value has risen by 1733%. The register has no figure for this street in 2012.

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 value is Rs 4,400 per sq.ft, which is equal to the current guideline value for Joseph Colony.

Stamp duty and registration fee for property in Joseph Colony : -

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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 guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Joseph Colony : -?

The Sub Registrar Office that covers Joseph Colony : - is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can influence the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Joseph Colony : -?

The current guideline value of Joseph Colony : - 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 240 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, with several revisions in between, including a significant increase of 1733% overall since 2002.

What are the other streets in Velachery with the same guideline value?

Other streets in Velachery with a guideline value of Rs 4,400 per sq.ft include Joseph Colony 1st Cross Street, Joseph Colony 1st Street, Joseph Colony Main Road, Justice Gokulakrishnan Street, and Jeganathapuram (Rajalakshmi Nagar) 3rd and 2nd Main Roads.

What is the stamp duty rate for property transactions in Joseph Colony : -?

The stamp duty rate for property transactions in Joseph Colony : - is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Joseph Colony : -?

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