Guideline Value for V.V. Colony 4th Street

V.V. Colony 4th Street guideline value

The current guideline value of V.V. Colony 4th 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 V.V. Colony 4th Street has changed

The guideline value for V.V. Colony 4th Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 3,500 per sq.ft. Prior to that, the guideline value remained unchanged at Rs 3,500 per sq.ft from the 2012 revision, indicating no change during the years 2012 to 2023.

It is important to note that there are no registered figures for this street in the years 2002, 2003, 2007, and 2017. Overall, from 2012 to 2024, the guideline value increased by 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 guideline value for these streets is Rs 4,400 per sq.ft, placing V.V. Colony 4th Street's 2024 figure below this median.

• V.V. Colony 3rd Street: Rs 3,850 per sq.ft (2024)
• V.V. Colony (Vyravaneeswarar Colony): Rs 3,850 per sq.ft (2024)
• V.V. Colony 2nd Street: Rs 3,850 per sq.ft (2024)
• V.V. Colony 1st Street: Rs 3,850 per sq.ft (2024)
• V.O.R. Station Road/Bhuvaneshwari Nagar: Rs 3,850 per sq.ft (2024)
• VOC Street Baby Nagar Extn.: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in V.V. Colony 4th 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 cost for these fees to Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.V. Colony 4th Street?

The Sub Registrar Office that covers V.V. Colony 4th 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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value, as it may influence negotiations and the final sale price. The registration office uses this value to calculate the necessary fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of V.V. Colony 4th Street?

The current guideline value of V.V. Colony 4th 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 changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. It remained unchanged at Rs 3,500 per sq.ft from 2012 to 2023.

What is the land classification of V.V. Colony 4th Street?

V.V. Colony 4th Street is classified as Residential Class II Type - III, indicating its intended use for residential purposes.

Where is the Velacheri Sub Registrar Office located?

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

How is stamp duty calculated for properties in Velachery?

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 at 7% would be Rs 2,69,500.