Guideline Value for VELAMMAL RECIDENCY

Velammal Recidency guideline value

The current guideline value of Velammal Recidency is Rs 400 per sq.ft, effective from 1 July 2024. This property is located in Thachoor village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Velammal Recidency has changed

Over the years, the guideline value for Velammal Recidency has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 268 per sq.ft. Following this, the value increased significantly to Rs 400 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision.

From the 2017 to 2023 revision, there was a notable increase of 49%. However, the overall change from the 2012 revision to the 2024 revision shows no percentage change, as the value returned to Rs 400 per sq.ft. The guideline register has no figures recorded for the years 2002, 2003, and 2007 for this street.

Guideline values in Thachoor

In Thachoor, there are 17 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 1,800 per sq.ft, with the median value being Rs 400 per sq.ft. Velammal Recidency's 2024 figure aligns with this median.

• Velammal Classic City Annex: Rs 800 per sq.ft (2024)
• Velammal Classic City: Rs 800 per sq.ft (2024)
• Velammal Avenue: 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 Recidency

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, bringing the total fees to Rs 36,000. It is important to note that the 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 Recidency?

The Sub Registrar Office that covers Velammal Recidency is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Thachoor, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When a property transaction occurs, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Velammal Recidency?

The current guideline value of Velammal Recidency is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023 and 2024. There was a 49% increase from 2017 to 2023.

What is the land classification of Velammal Recidency?

Velammal Recidency is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Ponneri Sub Registrar Office?

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 area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at Rs 400 per sq.ft would incur a total fee of Rs 36,000.