Guideline Value for Thiruveethi Amman Koil 1st Street

Thiruveethi Amman Koil 1st Street guideline value

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

How the guideline value of Thiruveethi Amman Koil 1st Street has changed

The guideline value for Thiruveethi Amman Koil 1st Street has seen several revisions over the years. In 2012, the value was Rs 4,000 per sq.ft, which decreased to Rs 2,680 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 4,000 per sq.ft, showing a rise of 49%.

The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year’s value of Rs 4,000 per sq.ft. The overall change from 2012 to 2024 is an increase of 10%.

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 across these streets is Rs 4,400 per sq.ft, which is equal to the 2024 figure for Thiruveethi Amman Koil 1st Street.

• Thiruveethi Amman Koil 2nd Street: Rs 4,400 per sq.ft (2024)
• Thiruveethiamman Koil 3rd Street: Rs 4,400 per sq.ft (2024)
• Thiruveedhiamman Koil Street: Rs 4,400 per sq.ft (2024)
• Thiruvalluvar Street: Rs 4,950 per sq.ft (2024)
• Thiru.V.K.Street: Rs 3,850 per sq.ft (2024)
• Throupathi Amman 1st Cross Street (100 ft. Bye-Pass Road): Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruveethi Amman Koil 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Thiruveethi Amman Koil 1st Street?

The Thiruveethi Amman Koil 1st Street is covered by 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 during the registration of property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid by the buyer or seller during a property transaction.

When a property is sold, the guideline value is used to assess the minimum value on which the stamp duty is calculated. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thiruveethi Amman Koil 1st Street?

The current guideline value of Thiruveethi Amman Koil 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification of Thiruveethi Amman Koil 1st Street?

Thiruveethi Amman Koil 1st Street is classified as Residential Class II Type - II.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,96,000.

Where can I find the Sub Registrar Office for this street?

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