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Guideline Value

Corporate

Guideline Value for Varadharajapuram (Velachery Tharamani Road)

₹13200/sq.ft.

The guideline value for Varadharajapuram (velachery Tharamani Road) in Velachery village (Velacheri SRO, Chennai zone) is Rs 13200 per sq.ft, effective 1 July 2024. It was Rs 12000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹13200 /sq.ft.
From 1-4-2023 ₹12000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹8040 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹12000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2000 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹995 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[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 Varadharajapuram (velachery Tharamani Road)

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Varadharajapuram (Velachery Tharamani Road) guideline value

The current guideline value of Varadharajapuram (Velachery Tharamani Road) is Rs 13,200 per sq.ft, effective from 1 July 2024. This area falls under Velachery village and is classified as Commercial Class I Type - I. The relevant Sub Registrar Office (SRO) for this location is Velacheri SRO.

How the guideline value of Varadharajapuram (Velachery Tharamani Road) has changed

The guideline value for Varadharajapuram has undergone several revisions over the years. In 2003, the value was Rs 995 per sq.ft, which increased to Rs 2,000 per sq.ft in 2007, marking a significant rise of 101%. However, the value saw a substantial increase of 500% to reach Rs 12,000 per sq.ft in 2012. Following this, there was a decrease of 33%, bringing the value down to Rs 8,040 per sq.ft in 2017. The 2023 revision set the value at Rs 12,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 13,200 per sq.ft, reflecting a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 1227%. The register does not have a figure for the year 2002 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, making the current value of Varadharajapuram (Velachery Tharamani Road) above this median.

Stamp duty and registration fee for property in Varadharajapuram (Velachery Tharamani Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, while the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. 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 Varadharajapuram (Velachery Tharamani Road)?

The Sub Registrar Office that covers Varadharajapuram (Velachery Tharamani Road) is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Velachery, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Understanding how the guideline value is applied helps in making informed decisions during property dealings in the area.

Frequently asked questions

What is the current guideline value of Varadharajapuram?

The current guideline value of Varadharajapuram (Velachery Tharamani Road) is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 995 per sq.ft in 2003 to Rs 13,200 per sq.ft in 2024, which is an overall increase of 1227% over this period.

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

Other streets in Velachery include Varadharajapuram/Velacheri Taramani Link Road and Varadharajapuram Officers Colony, both valued at Rs 13,200 per sq.ft in 2024, while Varatharajapuram and Varatharajapuram Lane I are valued at Rs 3,850 per sq.ft.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, a 1,000 sq.ft property at Rs 13,200 per sq.ft incurs a total fee of Rs 11,88,000.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles registrations for properties in the area.