Guideline Value for Telephone Colony 1st Main Road

Telephone Colony 1st Main Road guideline value

The current guideline value of Telephone Colony 1st Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Telephone Colony 1st Main Road has changed

Over the years, the guideline value of Telephone Colony 1st Main Road has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 1,800 per sq.ft. This increased to Rs 3,500 per sq.ft in 2012, marking a significant rise of 94%. However, in 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, and most recently, it has increased to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the increase was substantial at 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 114%. The register does not contain figures for the years 2002 and 2003 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, indicating that the guideline value of Telephone Colony 1st Main Road is below this median.

• Telephone Colony 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Telephone Colony 1st Street: Rs 3,850 per sq.ft (2024)
• Telephone Colony 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Telephone Colony 2nd Main Road: Rs 3,850 per sq.ft (2024)
• Telephone Colony 2nd Street: Rs 3,850 per sq.ft (2024)
• Telephone Colony 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Telephone Colony 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost for these fees Rs 3,46,500. 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 Telephone Colony 1st Main Road?

The Sub Registrar Office that covers Telephone Colony 1st Main 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 important factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value of the property, ensuring that the transaction is recorded accurately and fairly. Buyers and sellers must be aware of the guideline value to understand the costs associated with registration.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees. These costs are essential to factor into the overall expenses of purchasing or selling property in the area.

Frequently asked questions

What is the current guideline value of Telephone Colony 1st Main Road?

The current guideline value of Telephone Colony 1st Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 114% over the years.

What is the stamp duty rate for properties in Telephone Colony 1st Main Road?

The stamp duty rate for properties in Telephone Colony 1st Main Road is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Telephone Colony 1st Main Road?

The Sub Registrar Office for Telephone Colony 1st Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What classification does Telephone Colony 1st Main Road fall under?

Telephone Colony 1st Main Road is classified as Residential Class II Type - III, indicating its zoning for residential use.