Guideline Value for Value city Phase I

Value city Phase I guideline value

The current guideline value for Value city Phase I in Keelakazhani village is Rs 700 per sq.ft, effective from 1 July 2024. This property falls under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Value city Phase I has changed

The guideline value for Value city Phase I has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged in the 2023 revision. The 2017 revision recorded a lower value of Rs 469 per sq.ft, representing a decrease of 33% from the previous revision. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%, returning to Rs 700 per sq.ft. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 700 per sq.ft.

Guideline values in Keelakazhani

In Keelakazhani, there are 35 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,000 per sq.ft, with the median being Rs 700 per sq.ft. Value city Phase I's guideline value is equal to this median.

• Thiruvalluvar Nagar: Rs 600 per sq.ft (2024)
• Teachers township Phase -I: Rs 600 per sq.ft (2024)
• Teachers Township Phase-II (Sri Mahalakshmi Nagar): Rs 600 per sq.ft (2024)
• Teachers Saibaba Garden: Rs 700 per sq.ft (2024)
• S.V.P. Lingam Nagar: Rs 700 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Value city Phase I

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 fees to Rs 63,000. 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 assistance.

Which Sub Registrar Office covers Value city Phase I?

The Sub Registrar Office that covers Value city Phase I is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions, as it is used to determine the stamp duty and registration fees applicable when buying or selling property. When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher.

This ensures that the government receives the appropriate revenue from property transactions. Buyers and sellers should always refer to the latest guideline values to accurately calculate their costs during the registration process.

Frequently asked questions

What is the current guideline value for Value city Phase I?

The current guideline value for Value city Phase I in Keelakazhani village is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft since 2012, with a decrease to Rs 469 per sq.ft in 2017, followed by an increase back to Rs 700 per sq.ft in 2023.

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

Other streets in Keelakazhani include Thiruvalluvar Nagar, Teachers township Phase -I, Teachers Township Phase-II (Sri Mahalakshmi Nagar), Teachers Saibaba Garden, S.V.P. Lingam Nagar, and Sri Venkateshwara Nagar, with values ranging from Rs 600 to Rs 700 per sq.ft.

What are the stamp duty and registration fees for properties in Value city Phase I?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000.

Where can I find the Sub Registrar Office for Value city Phase I?

The Gooduvancheri Sub Registrar Office covers Value city Phase I and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.