Guideline Value for Taramani Road

Taramani Road guideline value

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

How the guideline value of Taramani Road has changed

The guideline value for Taramani Road has seen significant changes over the years. In the 2007 revision, the value was Rs 2,300 per sq.ft. This increased dramatically to Rs 12,000 per sq.ft in the 2012 revision, marking a rise of 422%. However, in 2017, the value decreased to Rs 8,040 per sq.ft, a decline of 33%. The value then rose again to Rs 12,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 13,200 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 474%. The revisions for the years 2002 and 2003 do not have figures recorded 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 is Rs 4,400 per sq.ft, placing Taramani Road's 2024 figure significantly above this median.

• Taramani Road (100ft Road): Rs 13,200 per sq.ft (2024)
• Taramani Road North Side Ambica Street: Rs 4,400 per sq.ft (2024)
• Taramani Link Road: Rs 13,200 per sq.ft (2024)
• Taramani Street: Rs 4,400 per sq.ft (2024)
• Taramani(Velacheri) Link Road/Varadharajapuram: Rs 13,200 per sq.ft (2024)
• Tansi Nagar Vivekanandar Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Taramani 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, totaling Rs 11,88,000. It is important to note that 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 Taramani Road?

The Sub Registrar Office covering Taramani 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 critical factor when registering property transactions in Velachery. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy and ensuring compliance with local regulations. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Taramani Road?

The current guideline value of Taramani 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 from Rs 2,300 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 474%.

What is the land classification for Taramani Road?

Taramani Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Taramani Road?

The Sub Registrar Office for Taramani 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 and registration fees for property in Taramani Road?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 1,32,00,000, the total stamp duty and registration fees would be Rs 11,88,000.