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_2 village under the Ponneri SRO, 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 set at Rs 536 per sq.ft. This figure increased significantly by 49% to Rs 800 per sq.ft in the 2023 revision. The 2024 revision has maintained the same rate of Rs 800 per sq.ft, showing no change from the previous year.

The register does not provide figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%.

Guideline values in Thachoor_2

In Thachoor_2, there are 40 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 202 to Rs 1,800 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value of Velammal Classic City is above this median.

• Velammal Avenue: Rs 400 per sq.ft (2024)
• Velammal Garden Extension: Rs 800 per sq.ft (2024)
• Velammal Garden Extention: Rs 800 per sq.ft (2024)
• Velammal Garden Phase I,II&iii: Rs 400 per sq.ft (2024)
• Velammal Recidency: Rs 400 per sq.ft (2024)
• Velammal Residencyphase II: Rs 800 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 rate of Rs 800 per sq.ft, the guideline value is 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, totaling Rs 72,000. 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 Velammal Classic City?

The Velammal Classic City is covered by the Ponneri Sub Registrar Office located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Thachoor_2

The guideline value plays a crucial role in property transactions within Thachoor_2. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property.

When registering a property, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps maintain transparency and standardization in property dealings.

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, maintaining the same rate in 2024. The overall change from 2017 to 2024 is an increase of 49%.

What are the guideline values for other streets in Thachoor_2?

Other streets in Thachoor_2 have guideline values ranging from Rs 400 to Rs 800 per sq.ft in 2024. For instance, Velammal Avenue has a guideline value of Rs 400 per sq.ft, while Velammal Garden Extension is at Rs 800 per sq.ft.

What fees are associated with property transactions in Velammal Classic City?

When buying property in Velammal Classic City, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 8,00,000, the total fees would amount to Rs 72,000.

Where can I find the Sub Registrar Office for Velammal Classic City?

The Ponneri Sub Registrar Office covers Velammal Classic City and is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find more information about your SRO online.