Guideline Value for VELAMMAL RESIDENCYPHASE III

Velammal Residencyphase III guideline value

The current guideline value of Velammal Residencyphase III is Rs 800 per sq.ft. It is located in Thachoor_2 village under the Ponneri SRO, classified as Residential Class I Type - I.

How the guideline value of Velammal Residencyphase III has changed

The guideline value for Velammal Residencyphase III has undergone significant changes over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 200 per sq.ft, which increased dramatically to Rs 800 per sq.ft in the 2024 revision, marking a change of +300%.

This substantial increase reflects the latest valuation effective from 1 July 2024. The 2024 figure stands in contrast to the previous years, showcasing a notable rise in the guideline value for this street.

Guideline values in Thachoor_2

In Thachoor_2, there are 40 streets under the Ponneri SRO that carry 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 Residencyphase III is above this median.

• Velammal Residencyphase II: Rs 800 per sq.ft (2024)
• Velammal Residency Phase -IV: Rs 800 per sq.ft (2024)
• Velammal Recidency: Rs 400 per sq.ft (2024)
• Velammal Vidhya Residency: Rs 600 per sq.ft (2024)
• Velammal Garden Phase I,II&iii: Rs 400 per sq.ft (2024)
• Velammal Garden Extention: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Velammal Residencyphase III

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total cost for these fees to Rs 72,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Velammal Residencyphase III?

The Velammal Residencyphase III 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

When buying or selling property in Thachoor_2, the guideline value plays a crucial role during the registration process. It serves as a basis for calculating stamp duty and registration fees, ensuring that these costs are appropriately assessed based on the property's value.

Buyers and sellers should be aware that the guideline value is updated periodically, reflecting changes in the real estate market. It is essential to consult the latest figures to understand the financial implications of a transaction in this area.

Frequently asked questions

What is the current guideline value for Velammal Residencyphase III?

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

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 200 per sq.ft in 2023 to Rs 800 per sq.ft in 2024, representing a significant increase of +300%.

What is the land classification for Velammal Residencyphase III?

Velammal Residencyphase III is classified as Residential Class I Type - I, indicating its designation for residential use.

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 stamp duty calculated for properties in Thachoor_2?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are collected during the registration process.