Guideline Value

Corporate

Guideline Value for VELAN CITY - II

₹440/sq.ft.

The guideline value for Velan City - Ii in Pammathukulam village (Redhills SRO, Chennai zone) is Rs 440 per sq.ft, effective 1 July 2024. It was Rs 400 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Pammathukulam

Village

Redhills

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹440 /sq.ft.
From 1-4-2023 ₹400 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹268 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹400 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Velan City - Ii

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Velan City - II guideline value

The current guideline value of Velan City - II is Rs 440 per sq.ft, effective from 1 July 2024. This property is located in Pammathukulam village, under the Redhills SRO, and falls under the Residential Class I Type - II land classification.

How the guideline value of Velan City - II has changed

The guideline value for Velan City - II has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017. Following this, the value increased significantly to Rs 400 per sq.ft in 2023, and then rose again to Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. However, from 2012 to 2017, there was a decrease of 33%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pammathukulam

In Pammathukulam, there are 101 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Velan City - II is below this median.

Stamp duty and registration fee for property in Velan City - II

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, resulting in a total of Rs 39,600. 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 further calculations.

Which Sub Registrar Office covers Velan City - II?

The Sub Registrar Office that covers Velan City - II is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Pammathukulam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to accurately calculate the associated costs during the property transfer process.

Frequently asked questions

What is the current guideline value of Velan City - II?

The current guideline value of Velan City - II is Rs 440 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 increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the registration fee for property in Velan City - II?

The registration fee for property in Velan City - II is 2% of the guideline value. For example, on a property valued at Rs 4,40,000, the registration fee would be Rs 8,800.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For instance, a property valued at Rs 4,40,000 would incur a stamp duty of Rs 30,800.