Guideline Value for Secretariate Colony City Link Road

Secretariate Colony City Link Road guideline value

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

How the guideline value of Secretariate Colony City Link Road has changed

In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. This figure decreased to Rs 2,680 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly to Rs 4,400 per sq.ft, reflecting a rise of 64%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have 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 guideline value of Secretariate Colony City Link Road.

• Secretariate Colony 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Secretariate Colony/Ganseh Nagar, Ranganathan Street: Rs 4,400 per sq.ft (2024)
• Secretariat Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Secretariat Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• Secretariat Colony 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Secretariat Colony 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Secretariate Colony City Link Road

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value is 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Secretariate Colony City Link Road?

The Sub Registrar Office that covers Secretariate Colony City Link 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 more information.

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

The guideline value is a crucial factor in property transactions, as it determines the amount of stamp duty and registration fees payable during the registration process. Buyers and sellers must refer to the current guideline value to ensure compliance with legal requirements when finalizing property deals.

When a property is registered, the guideline value or the sale price is taken into account, whichever is higher. This ensures that the transaction reflects the appropriate value for taxation purposes, safeguarding both the buyer and seller in the process.

Frequently asked questions

What is the current guideline value of Secretariate Colony City Link Road?

The current guideline value of Secretariate Colony City Link Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value changed from Rs 4,000 per sq.ft to Rs 2,680 per sq.ft in 2017. It then increased to Rs 4,400 per sq.ft in 2024, resulting in an overall increase of 10% from 2012 to 2024.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.

Which Sub Registrar Office covers this street?

The Velacheri Sub Registrar Office covers Secretariate Colony City Link Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Secretariate Colony City Link Road?

This road is classified as Residential Class II Type - II, indicating its suitability for residential development and use.