Guideline Value for VELAMMAL RESIDENCYPHASE II

Velammal Residencyphase II guideline value

The current guideline value of Velammal Residencyphase II is Rs 800 per sq.ft, effective from 1 July 2024. This property is located in Thachoor_2 village under the Ponneri SRO, classified as Residential Class I Type - I.

How the guideline value of Velammal Residencyphase II has changed

Over the years, the guideline value for Velammal Residencyphase II has seen significant changes. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 200 per sq.ft, and it increased to Rs 800 per sq.ft in the 2024 revision, marking a change of +300%.

The 2024 revision reflects a considerable increase from the previous year, where the guideline value was Rs 200 per sq.ft in 2023. This sharp rise indicates a notable adjustment in the valuation of properties in this area.

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. Velammal Residencyphase II's 2024 figure of Rs 800 per sq.ft is above this median.

• Velammal Recidency: Rs 400 per sq.ft (2024)
• Velammal Residencyphase III: Rs 800 per sq.ft (2024)
• Velammal Residency Phase -IV: Rs 800 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 II

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 to Rs 72,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Velammal Residencyphase II?

The Velammal Residencyphase II falls under 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 plays a crucial role in the registration process of property transactions in Thachoor_2. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the financial aspects of property transactions. Understanding how the guideline value is set and revised can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value for Velammal Residencyphase II?

The current guideline value for Velammal Residencyphase II 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, which is a change of +300%.

What is the land classification for Velammal Residencyphase II?

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

What are the other streets in Thachoor_2 with their guideline values?

Other streets in Thachoor_2 include Velammal Recidency at Rs 400 per sq.ft, Velammal Residencyphase III at Rs 800 per sq.ft, and Velammal Vidhya Residency at Rs 600 per sq.ft, among others.

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.