Guideline Value for Telephone Colony 2nd Main Road

Telephone Colony 2nd Main Road guideline value

The current guideline value of Telephone Colony 2nd Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Telephone Colony 2nd Main Road has changed

The guideline value for Telephone Colony 2nd Main Road has seen several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in the 2012 revision, marking a rise of 94%. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, reflecting a 10% increase from the 2012 figure.

Overall, from 2007 to 2024, the guideline value has increased by 114%. It is important to note that for the years 2002, 2003, 2017, and 2023, the register has no figure 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 means that the guideline value for Telephone Colony 2nd Main Road is below the median.

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

Stamp duty and registration fee for property in Telephone Colony 2nd 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 amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Telephone Colony 2nd Main Road?

The Sub Registrar Office that covers Telephone Colony 2nd Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable taxes, ensuring that both buyers and sellers are aware of the financial obligations involved in the property transaction.

Frequently asked questions

What is the current guideline value of Telephone Colony 2nd Main Road?

The current guideline value of Telephone Colony 2nd 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 3,500 per sq.ft in 2012, and then to Rs 3,850 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2017, and 2023.

What is the land classification for Telephone Colony 2nd Main Road?

The land classification for Telephone Colony 2nd Main Road is Residential Class II Type - III.

What are the registration fees for property transactions?

For a property valued at Rs 38,50,000, the stamp duty is Rs 2,69,500 at 7%, and the registration fee is Rs 77,000 at 2%, totaling Rs 3,46,500.

Where is the Sub Registrar Office for Telephone Colony 2nd Main Road located?

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