Guideline Value

Corporate

Guideline Value for VELACHERY MAIN ROAD

₹4950/sq.ft.

The guideline value for Velachery Main Road in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 4950 per sq.ft, effective 1 July 2024. It was Rs 4500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Commercial Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹4950 /sq.ft.
From 1-4-2023 ₹4500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3015 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1278 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹238 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹205 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Velachery Main Road

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Velachery Main Road guideline value

The current guideline value of Velachery Main Road in Medavakkam village is Rs 4,950 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Commercial Special Type - I.

How the guideline value of Velachery Main Road has changed

The guideline value for Velachery Main Road has seen significant changes over the years. In 2002, the value was Rs 205 per sq.ft. This increased to Rs 238 per sq.ft in 2003, marking a 16% rise. From 2003 to 2007, the value surged by 437%, reaching Rs 1,278 per sq.ft. Following this, in 2012, the value was Rs 4,500 per sq.ft, reflecting a 252% increase from the previous revision in 2007. However, from 2012 to 2017, there was a decrease of 33%, bringing the value down to Rs 3,015 per sq.ft.

In 2023, the guideline value was revised to Rs 4,500 per sq.ft, which was a 49% increase from the 2017 figure. The most recent revision in 2024 set the value at Rs 4,950 per sq.ft, resulting in a 10% increase from the previous year. The overall change from 2002 to 2024 is a substantial 2,315% increase.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the guideline value for Velachery Main Road above the median.

Stamp duty and registration fee for property in Velachery Main Road

For a 1,000 sq.ft plot at the current rate of Rs 4,950 per sq.ft, the guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, totaling Rs 4,45,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Velachery Main Road?

The Velachery Main Road falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Medavakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. 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 Velachery Main Road?

The current guideline value of Velachery Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 205 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 2,315% over the years.

What is the land classification for Velachery Main Road?

Velachery Main Road is classified as Commercial Special Type - I under the Chennai South Joint I SRO.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 4,950 per sq.ft would incur a total fee of Rs 4,45,500.

Where can I find the Sub Registrar Office for Velachery Main Road?

The Sub Registrar Office covering Velachery Main Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.