Guideline Value for VELLODI ROAD

Vellodi Road guideline value

The current guideline value of Vellodi Road is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Ponneri village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vellodi Road has changed

The guideline value for Vellodi Road has undergone significant changes over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 300 per sq.ft, which increased to Rs 700 per sq.ft in the 2024 revision, marking a change of +133%.

Prior to the 2023 revision, there were no recorded figures for this street. The 2024 figure aligns with the median guideline value of Rs 700 per sq.ft for the 120 streets in Ponneri under the Ponneri SRO, which range from Rs 201 to Rs 1,200 per sq.ft.

Guideline values in Ponneri

Ponneri village has a variety of guideline values across its streets. The guideline value for Vellodi Road is equal to the median value of Rs 700 per sq.ft. Below are some other streets in Ponneri with their respective guideline values:

• Velavan Nagar: Rs 700 per sq.ft (2024)
• Vedhagiri Mudali Street: Rs 900 per sq.ft (2024)
• Varadhappa Naicken St: Rs 1,200 per sq.ft (2024)
• Varadhappa Naickan St: Rs 900 per sq.ft (2024)
• Vaniamkulam Salai: Rs 700 per sq.ft (2024)
• Vallalar Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Vellodi Road

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total charges to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vellodi Road?

The Vellodi Road falls under the Ponneri Sub Registrar Office located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Ponneri. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during property transactions.

When a property is bought or sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Vellodi Road?

The current guideline value of Vellodi Road is Rs 700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 300 per sq.ft to Rs 700 per sq.ft, which is a change of +133%.

What is the land classification for Vellodi Road?

Vellodi Road is classified as Residential Class II Type - I, indicating its suitability for residential development.

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 property registrations for the area.

How is the stamp duty calculated for properties on Vellodi Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.