Guideline Value for Tambaram Velachery Road

Tambaram Velachery Road guideline value

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

How the guideline value of Tambaram Velachery Road has changed

The guideline value for Tambaram Velachery Road has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 12,000 per sq.ft. This was followed by a decrease to Rs 8,040 per sq.ft in 2017. However, the value saw a significant increase to Rs 12,000 per sq.ft in 2023, and then rose again to Rs 13,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the revisions, there were substantial changes. From 2017 to 2023, the value increased by 49%. The 2012 to 2017 revision saw a decrease of 33%. Overall, comparing the 2012 figure to the current 2024 value shows a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 for these streets is Rs 4,400 per sq.ft, placing Tambaram Velachery Road's 2024 figure above this median.

• Tamil Nadu Housing Board Colony: Rs 4,400 per sq.ft (2024)
• Tansi Nagar: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 100Feet Road: Rs 13,200 per sq.ft (2024)
• Tansi Nagar 10th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 11th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 12th Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Tambaram Velachery Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be 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 or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tambaram Velachery Road?

The Sub Registrar Office that covers Tambaram Velachery 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 an essential factor in property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid during the transaction.

At the time of registration, the authorities will consider the guideline value to ensure that the property is not undervalued. This ensures transparency in property transactions and helps in maintaining the integrity of the real estate market.

Frequently asked questions

What is the current guideline value of Tambaram Velachery Road?

The current guideline value of Tambaram Velachery 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 from Rs 12,000 per sq.ft in 2012 to Rs 8,040 per sq.ft in 2017, then increased to Rs 12,000 per sq.ft in 2023, and finally to Rs 13,200 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on this road?

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 11,88,000, which includes stamp duty and registration fees based on the guideline value.

Which office handles property registrations for Tambaram Velachery Road?

The Velacheri Sub Registrar Office handles property registrations for Tambaram Velachery Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value serves as a benchmark for property registration, determining the minimum value for transactions. It is crucial for calculating the stamp duty and registration fees during the buying or selling process.