Guideline Value for Telephone Colony 3rd Street

Telephone Colony 3rd Street guideline value

The current guideline value of Telephone Colony 3rd 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 3rd Street has changed

The guideline value for Telephone Colony 3rd Street has undergone several revisions since 2002. In 2002, the value was Rs 581 per sq.ft, which increased to Rs 651 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 1,800 per sq.ft in 2007, marking an increase of 176%. The value then adjusted to Rs 3,500 per sq.ft in 2012, a decrease of 33%. In 2017, it was revised to Rs 2,345 per sq.ft, and finally, the current value stands at Rs 3,850 per sq.ft as of the 2024 revision, reflecting a 64% increase from the 2017 figure.

The register has no figure for this street in 2023. Overall, from 2002 to 2024, the guideline value has increased by 563%.

Guideline values in Velachery

In Velachery village, 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 of Telephone Colony 3rd Street is below this median.

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

Stamp duty and registration fee for property in Telephone Colony 3rd Street

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, bringing the total to Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Telephone Colony 3rd Street?

The Sub Registrar Office that covers Telephone Colony 3rd 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 an essential factor in the registration process for property transactions in Velachery. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Telephone Colony 3rd Street?

The current guideline value of Telephone Colony 3rd 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 seen several revisions, with the most recent increase of 64% from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024.

What is the registration office for Telephone Colony 3rd Street?

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

How is stamp duty calculated for properties in Telephone Colony 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at a rate of 7%.

What are the other streets in Velachery with the same guideline value?

Other streets in Velachery with the same guideline value of Rs 3,850 per sq.ft include Telephone Colony 2nd Street, Telephone Colony 2nd Main Road, Telephone Colony 2nd Cross Street, Telephone Colony, Ganesh Nagar 2nd Cross Street, Telephone Colony 1st Street, and Telephone Colony Main Road.