Guideline Value for VELAMMAL GARDEN EXTENSION

Velammal Garden Extension guideline value

The current guideline value of Velammal Garden Extension is Rs 800 per sq.ft, effective from 1 July 2024. This property is located in Thachoor_2 village under the Ponneri SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Velammal Garden Extension has changed

The guideline value for Velammal Garden Extension has undergone several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 400 per sq.ft. The latest revision in 2024 has increased this value to Rs 800 per sq.ft, reflecting a 100% increase from the previous year.

This significant change indicates a shift in the valuation of properties in this area. The current figure of Rs 800 per sq.ft is now above the median guideline value of Rs 600 per sq.ft for the 40 streets in Thachoor_2 under the Ponneri SRO, which range from Rs 202 to Rs 1,800 per sq.ft.

Guideline values in Thachoor_2

In Thachoor_2, there are various guideline values for different streets. The current guideline value for Velammal Garden Extension is above the median value for the area. The following are the guideline values for other streets in Thachoor_2:

• Velammal Garden Extention: Rs 800 per sq.ft (2024)
• Velammal Garden Phase I,II&iii: Rs 400 per sq.ft (2024)
• Velammal Classic City: Rs 800 per sq.ft (2024)
• Velammal Recidency: Rs 400 per sq.ft (2024)
• Velammal Residencyphase II: Rs 800 per sq.ft (2024)
• Velammal Residencyphase III: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Velammal Garden Extension

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

Which Sub Registrar Office covers Velammal Garden Extension?

The Sub Registrar Office that covers Velammal Garden Extension is 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 the registration process of property transactions in Thachoor_2. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted transparently and fairly.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for Velammal Garden Extension?

The current guideline value for Velammal Garden Extension is Rs 800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value changed from Rs 400 per sq.ft in 2023 to Rs 800 per sq.ft in 2024, marking a 100% increase.

What is the land classification for Velammal Garden Extension?

Velammal Garden Extension is classified under Residential Class I Type - I.

Where is the Ponneri Sub Registrar Office located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the stamp duty calculated for properties in Velammal Garden Extension?

Stamp duty for properties in Velammal Garden Extension is calculated at 7% of the guideline value or the sale price, whichever is higher. Additional registration fees are charged at 2% of the guideline value.