Guideline Value

Corporate

Guideline Value for LIC Colony 100ft Road

₹13200/sq.ft.

The guideline value for Lic Colony 100ft Road in Velachery village (Velacheri SRO, Chennai zone) is Rs 13200 per sq.ft, effective 1 July 2024. It was Rs 12000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹13200 /sq.ft.
From 1-4-2023 ₹12000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹8040 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹12000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
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 Lic Colony 100ft Road

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LIC Colony 100ft Road guideline value

The current guideline value of LIC Colony 100ft Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Commercial Class I Type - I.

How the guideline value of LIC Colony 100ft Road has changed

Looking at the historical revisions, the guideline value for LIC Colony 100ft Road has seen significant changes over the years. In 2012, the value was Rs 12,000 per sq.ft, which decreased to Rs 8,040 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased dramatically to Rs 12,000 per sq.ft, a rise of 49%. The most recent revision in 2024 has further increased the value to Rs 13,200 per sq.ft, reflecting a 10% increase from the previous year.

The register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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, with a median value of Rs 4,400 per sq.ft. The guideline value of LIC Colony 100ft Road is above this median.

Stamp duty and registration fee for property in LIC Colony 100ft Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total fees to Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers LIC Colony 100ft Road?

The LIC Colony 100ft Road is covered by 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 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 stamp duty and registration fees, which are mandatory costs associated with the transaction. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of LIC Colony 100ft Road?

The current guideline value of LIC Colony 100ft 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 significantly, with the value in 2012 being Rs 12,000 per sq.ft, dropping to Rs 8,040 per sq.ft in 2017, and then rising to Rs 12,000 per sq.ft in 2023. The latest revision in 2024 has increased it to Rs 13,200 per sq.ft.

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

Other streets in Velachery include LIC Colony 1st Main Road at Rs 13,200 per sq.ft, and LIC Colony 1st Street, 2nd Main Road, 2nd Street, 3rd Main Road, and 3rd Street all at Rs 5,500 per sq.ft (2024).

How is stamp duty calculated for properties in LIC Colony 100ft Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000.

Where can I find the Sub Registrar Office for LIC Colony 100ft Road?

The Velacheri Sub Registrar Office covers LIC Colony 100ft Road. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.