Guideline Value for VELAMMAL GARDEN PHASE I,II&III

Velammal Garden Phase I,II&iii guideline value

The current guideline value of Velammal Garden Phase I, II & III is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Thachoor_2 village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Velammal Garden Phase I,II&iii has changed

The guideline value for Velammal Garden Phase I, II & III has seen several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures are Rs 300 per sq.ft from the 2023 revision, which increased to Rs 400 per sq.ft in the 2024 revision, marking a change of +33%.

Prior to the 2023 revision, the guideline value was not specified for the aforementioned years. The 2024 revision reflects a significant adjustment in the valuation, aligning with the current trends in the area.

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. The guideline value of Velammal Garden Phase I, II & III is below this median.

• Velammal Garden Extention: Rs 800 per sq.ft (2024)
• Velammal Garden Extension: 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)
• Velammal Classic City: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Velammal Garden Phase I,II&iii

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. Duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Velammal Garden Phase I,II&iii?

The Sub Registrar Office covering Velammal Garden Phase I, II & III is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process for property transactions in Thachoor_2. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring compliance with local regulations.

When buying or selling property, the guideline value serves as a reference point for both parties. It is important to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Velammal Garden Phase I, II & III?

The current guideline value of Velammal Garden Phase I, II & III is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

The guideline value increased from Rs 300 per sq.ft in 2023 to Rs 400 per sq.ft in 2024, reflecting a change of +33%.

What is the land classification for Velammal Garden Phase I, II & III?

Velammal Garden Phase I, II & III is classified as Residential Class II Type - I.

Which office handles registrations for properties in Velammal Garden Phase I, II & III?

The Ponneri Sub Registrar Office handles registrations for properties in Velammal Garden Phase I, II & III, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 400 per sq.ft would incur a total stamp duty of Rs 28,000.