Guideline Value for Telephone Colony 1st Street

Telephone Colony 1st Street guideline value

The current guideline value of Telephone Colony 1st Street 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 Street has changed

The guideline value for Telephone Colony 1st Street has seen several revisions over the years. In 2002, the value was Rs 581 per sq.ft, which increased to Rs 651 per sq.ft in 2003, marking a change of +12%. The subsequent revision in 2007 saw a significant increase to Rs 1,800 per sq.ft, representing a rise of +176%. In 2012, the value remained at Rs 3,500 per sq.ft, and then in 2017, it dropped to Rs 2,345 per sq.ft, a decrease of -33%. The 2023 revision saw the value increase to Rs 3,500 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 3,850 per sq.ft, an increase of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +563%. There are no figures available for the years not mentioned in the register 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, with a median value of Rs 4,400 per sq.ft. The guideline value for Telephone Colony 1st Street is below this median.

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

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, resulting in a total of 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Telephone Colony 1st Street?

The Sub Registrar Office that covers Telephone Colony 1st 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 details.

How the guideline value is used when you buy or sell in Velachery

The guideline value is a crucial factor in the registration of property transactions in Velachery. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives its due revenue from property transactions. Buyers and sellers must be aware of this value as it directly impacts the costs associated with property dealings.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures that properties are not undervalued during transactions, maintaining a standard for property prices in the area.

Frequently asked questions

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

The current guideline value of Telephone Colony 1st Street 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 increased from Rs 581 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of +563% over the years.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office should I visit for transactions in Telephone Colony 1st Street?

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

What is the land classification for Telephone Colony 1st Street?

Telephone Colony 1st Street is classified as Residential Class II Type - III, indicating its suitability for residential development.