Guideline Value for VELAMMAL CLASSIC CITY

Velammal Classic City guideline value

The current guideline value of Velammal Classic City is Rs 800 per sq.ft, effective from 1 July 2024. This property is located in Thachoor village under the Ponneri Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Velammal Classic City has changed

In the 2017 revision, the guideline value was Rs 536 per sq.ft. This figure increased to Rs 800 per sq.ft in the 2023 revision, marking a significant change of 49%. The current 2024 revision also maintains the guideline value at Rs 800 per sq.ft, showing no change from the previous year.

There are no figures available in the register for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Thachoor

In Thachoor, there are 17 streets under the Ponneri SRO that have a 2024 guideline value ranging from Rs 300 to Rs 1,800 per sq.ft, with a median value of Rs 400 per sq.ft. Velammal Classic City's guideline value is above this median.

• Velammal Avenue: Rs 400 per sq.ft (2024)
• Velammal Classic City Annex: Rs 800 per sq.ft (2024)
• Velammal Recidency: Rs 400 per sq.ft (2024)
• Sri Devi Gayathri Nagar: Rs 400 per sq.ft (2024)
• Sri Bhavani Amman Nagar: Rs 400 per sq.ft (2024)
• Sri Balaji Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Velammal Classic City

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, leading to a total of Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Velammal Classic City?

The Velammal Classic City falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is an essential factor during property registration in Thachoor. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value impacts the stamp duty and registration fees, which are calculated based on this value. Buyers should be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Velammal Classic City?

The current guideline value of Velammal Classic City is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2023 and has remained the same in 2024. This represents a 49% increase from 2017 to 2024.

What are the other streets in Thachoor and their guideline values?

Other streets in Thachoor include Velammal Avenue, Velammal Classic City Annex, Velammal Recidency, Sri Devi Gayathri Nagar, Sri Bhavani Amman Nagar, and Sri Balaji Nagar, with values ranging from Rs 400 to Rs 800 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Velammal Classic City?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Ponneri Sub Registrar Office located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles the registration of properties in the Velammal Classic City area.