Guideline Value for VELAMMAL GARDEN EXTENTION

Velammal Garden Extention 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 Sub Registrar Office (SRO) and falls under the Residential Class I Type - I land classification.

How the guideline value of Velammal Garden Extention has changed

Over the years, the guideline value for Velammal Garden Extension has seen significant changes. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. However, in the 2023 revision, the guideline value was Rs 400 per sq.ft, which increased to Rs 800 per sq.ft in the 2024 revision, marking a 100% increase.

The 2024 revision reflects a notable rise compared to the previous year. The 2023 figure of Rs 400 per sq.ft was the last recorded value before the substantial increase in 2024.

Guideline values in Thachoor_2

In Thachoor_2, there are 40 streets under the Ponneri SRO that have 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. Velammal Garden Extension's 2024 guideline value of Rs 800 per sq.ft is above this median.

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

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, 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 or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Velammal Garden Extention?

The Velammal Garden Extension area is covered by 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_2

The guideline value is a crucial factor in the registration process of property transactions in Thachoor_2. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately in the official records. Buyers and sellers 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 Garden Extension?

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

How much did the guideline value change from 2023 to 2024?

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

What land classification does Velammal Garden Extension fall under?

Velammal Garden Extension falls under the Residential Class I Type - I land classification.

Which Sub Registrar Office covers the area of Velammal Garden Extension?

The Ponneri Sub Registrar Office covers Velammal Garden Extension, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a benchmark for determining the financial obligations of buyers and sellers when registering a property.