Guideline Value for Taramani Street

Taramani Street guideline value

The current guideline value of Taramani Street in Velachery village, under the Velacheri SRO, is Rs 4,400 per sq.ft as per the 2024 revision effective from 1 July 2024. This street is classified under Residential Class II Type - II.

How the guideline value of Taramani Street has changed

Over the years, the guideline value of Taramani Street has seen significant changes. The 2007 revision recorded a value of Rs 1,800 per sq.ft, which increased to Rs 2,680 per sq.ft in 2017, marking a 49% rise. Following this, the 2023 revision set the value at Rs 4,000 per sq.ft, reflecting another 49% increase from the previous revision. The most recent 2024 revision has further increased the guideline value to Rs 4,400 per sq.ft, a 10% rise from 2023.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 144%. It is important to note that the register has no figures for the years 2002, 2003, and 2012 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 guideline value for these streets is Rs 4,400 per sq.ft, which aligns with the current figure for Taramani Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total 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, bringing the total charges to 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 the stamp duty and registration fee calculator for more precise calculations based on your property.

Which Sub Registrar Office covers Taramani Street?

The Sub Registrar Office that covers Taramani Street 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 in Velachery. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees payable at the time of sale.

When buying or selling property, the guideline value ensures that the transaction is documented at a fair value as per the government’s assessment. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Taramani Street?

The current guideline value of Taramani Street is Rs 4,400 per sq.ft as per the 2024 revision effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, which is an overall increase of 144%.

What is the land classification for Taramani Street?

Taramani Street is classified under Residential Class II Type - II, which indicates its designation for residential purposes.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated on property in Taramani Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000.