Guideline Value

Corporate

Guideline Value for VELAN CITY ANNEX

₹550/sq.ft.

The guideline value for Velan City Annex in Pammathukulam village (Redhills SRO, Chennai zone) is Rs 550 per sq.ft, effective 1 July 2024. It was Rs 500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Pammathukulam

Village

Redhills

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹550 /sq.ft.
From 1-4-2023 ₹500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹335 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹500 /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]

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Velan City Annex guideline value

The current guideline value of Velan City Annex, located in Pammathukulam village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Velan City Annex has changed

Over the years, the guideline value for Velan City Annex has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 500 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pammathukulam

Pammathukulam village has a total of 101 streets under the Redhills SRO, with the 2024 guideline values ranging from Rs 330 to Rs 825 per sq.ft. The median guideline value for the village is Rs 550 per sq.ft, which is equal to the current value for Velan City Annex.

Stamp duty and registration fee for property in Velan City Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty, charged at 7%, would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, leading to a total cost of Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Velan City Annex?

The Velan City Annex falls under the jurisdiction of the Redhills Sub Registrar Office. The address is: Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pammathukulam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price of the property.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in accurately assessing the costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Velan City Annex?

The current guideline value of Velan City Annex is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the registration office for Velan City Annex?

The registration office for Velan City Annex is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 5,50,000, the stamp duty would be 7% of that amount.

What are the guideline values for other streets in Pammathukulam?

Other streets in Pammathukulam have varying guideline values. For instance, Velan City and Velan City - III both have a guideline value of Rs 550 per sq.ft, while Velan City - II has a value of Rs 440 per sq.ft.