Guideline Value for TNUDP SCHEME

Tnudp Scheme guideline value

The current guideline value for the Tnudp Scheme in Velachery village is Rs 4,400 per sq.ft, effective from 1 July 2024. This property falls under the Velacheri SRO and is classified as Residential Class II Type - II.

How the guideline value of Tnudp Scheme has changed

The guideline value for the Tnudp Scheme has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 4,000 per sq.ft, which increased to Rs 4,400 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there are no recorded figures for this street. The 2024 revision has set the current guideline value at Rs 4,400 per sq.ft, aligning with the median value for Velachery streets.

Guideline values in Velachery

In Velachery, 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 value is Rs 4,400 per sq.ft, and the Tnudp Scheme's 2024 figure matches this median. Below are the guideline values for other streets in Velachery:

• TNUDP SCHEME 78th LANE: Rs 4,400 per sq.ft (2024)
• TNHB Main Road: Rs 6,600 per sq.ft (2024)
• TNHB 9th Street: Rs 4,950 per sq.ft (2024)
• TNHB 9th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 99th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 98th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Tnudp Scheme

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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Tnudp Scheme?

The Tnudp Scheme 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 is an essential reference for determining the stamp duty and registration fees when buying or selling property in Velachery. It serves as a benchmark for the minimum value at which a property can be registered.

When a property is sold, the transaction must be registered at the Velacheri SRO, where the guideline value will be used to calculate the applicable fees. Buyers should ensure they are aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Tnudp Scheme?

The current guideline value for the Tnudp Scheme in Velachery is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, reflecting a +10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for Tnudp Scheme properties?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. The duty is calculated on the higher of the guideline value or the sale price.

Which office handles property registrations for Tnudp Scheme?

The Velacheri Sub Registrar Office handles property registrations for the Tnudp Scheme. It is located at 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 by the Registration Department and is based on various factors including location and land classification. It serves as a reference for calculating stamp duty and registration fees during property transactions.