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_2 village, under the Ponneri SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Velammal Recidency has changed

The guideline value for Velammal Recidency has seen several revisions over the years. The 2017 revision recorded a value of Rs 268 per sq.ft. This figure remained unchanged until the 2023 revision, which also listed the value at Rs 400 per sq.ft. The most recent 2024 revision has maintained this value at Rs 400 per sq.ft, reflecting a 49% increase from the 2017 figure.

Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The transition from the 2017 to the 2023 revision showed a significant increase of 49%, and overall, from 2017 to 2024, the guideline value has increased by the same percentage.

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 for Velammal Recidency is below this median.

• Velammal Residencyphase II: Rs 800 per sq.ft (2024)
• Velammal Residencyphase III: Rs 800 per sq.ft (2024)
• Velammal Residency Phase -IV: Rs 800 per sq.ft (2024)
• Velammal Garden Phase I,II&iii: Rs 400 per sq.ft (2024)
• Velammal Vidhya Residency: Rs 600 per sq.ft (2024)
• Velammal Garden Extention: Rs 800 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 our stamp duty and registration fee calculator for more details.

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. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Thachoor_2. It is used to calculate the stamp duty and registration fees that buyers must pay when purchasing property.

When selling property, the guideline value ensures that the transaction is recorded accurately and reflects the official valuation set by the Registration Department. This helps maintain transparency in property dealings.

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 increased from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in both 2023 and 2024, marking a 49% increase overall from 2017 to 2024.

What are the stamp duty and registration fees for Velammal Recidency?

For a 1,000 sq.ft plot, the total guideline value is Rs 4,00,000. The stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000.

Which office handles registrations for properties in Thachoor_2?

The Ponneri Sub Registrar Office handles registrations for properties in Thachoor_2, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the significance of the guideline value in property transactions?

The guideline value is essential for calculating stamp duty and registration fees during property transactions. It ensures that the transaction is recorded accurately and reflects the official valuation set by the Registration Department.