Guideline Value

Corporate

Guideline Value for Joseph Colony Main Road

₹4400/sq.ft.

The guideline value for Joseph Colony Main Road 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 N/A
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
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 Main Road

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Joseph Colony Main Road guideline value

The current guideline value of Joseph Colony Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Velachery village, under the jurisdiction of the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Joseph Colony Main Road has changed

The guideline value for Joseph Colony Main Road has undergone several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft. This figure increased significantly to Rs 4,000 per sq.ft in 2012, marking a change of +122%. The value remained unchanged at Rs 4,000 per sq.ft until the next revision in 2023, where it increased to Rs 4,400 per sq.ft, reflecting a change of +10%.

As of the 2024 revision, the guideline value stands at Rs 4,400 per sq.ft. Overall, from 2007 to 2024, there has been an increase of +144%. The register does not have figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Velachery

In Velachery village, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Joseph Colony Main Road.

Stamp duty and registration fee for property in Joseph Colony Main Road

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

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Joseph Colony Main Road?

The Sub Registrar Office that covers Joseph Colony 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 the registration of property transactions in Velachery. It is used to determine the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from property sales.

When buying or selling property, the guideline value serves as a benchmark for the transaction price. This means that if the sale price is lower than the guideline value, the duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of Joseph Colony Main Road?

The current guideline value of Joseph Colony Main 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 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of +144%.

What is the registration office for Joseph Colony Main Road?

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

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find more information about stamp duty and registration fees?

For more information about stamp duty and registration fees, you can use the stamp duty and registration fee calculator.