Guideline Value for Velacheri Road (Between Acquatic Complex & Sardarpatel Road)

Velacheri Road (Between Acquatic Complex & Sardarpatel Road) guideline value

The current guideline value of Velacheri Road (Between Acquatic Complex & Sardarpatel Road) is Rs 10,500 per sq.ft, effective from 1 July 2024. This road is located in Venkatapuram village and falls under the Adayar SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Velacheri Road (Between Acquatic Complex & Sardarpatel Road) has changed

The guideline value for this street has seen significant changes over the years. In the 2002 revision, the value was Rs 1,509 per sq.ft, which increased to Rs 1,677 per sq.ft in 2003, marking an increase of 11%. Following this, the value rose dramatically to Rs 4,885 per sq.ft in 2007, a change of 191%. The 2012 revision saw a decrease to Rs 9,500 per sq.ft, a drop of 33%. However, this was followed by a substantial increase to Rs 6,365 per sq.ft in 2017, reflecting a 49% rise. The guideline value then increased to Rs 9,500 per sq.ft in 2023, before reaching the current value of Rs 10,500 per sq.ft in 2024, which is an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 596%. Notably, there are no figures available for any revisions prior to 2002 or after 2024 for this street.

Guideline values in Venkatapuram

In Venkatapuram, there are 36 streets under the Adayar SRO that carry a guideline value for 2024, ranging from Rs 2,800 to Rs 15,400 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, and Velacheri Road (Between Acquatic Complex & Sardarpatel Road) is above this median.

• Velacheri Road (Between Sardar Patel Road & Anna Salai): Rs 10,500 per sq.ft (2024)
• Venkatapuram Slum Residents: Rs 2,800 per sq.ft (2024)
• Vinayagar Koil Street: Rs 5,500 per sq.ft (2024)
• Thulasinga Chetty Street: Rs 2,800 per sq.ft (2024)
• West Avenue Road: Rs 4,400 per sq.ft (2024)
• Thamas Nagar: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Velacheri Road (Between Acquatic Complex & Sardarpatel Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 10,500 per sq.ft, the total guideline value would be Rs 1,05,00,000. The stamp duty at 7% would amount to Rs 7,35,000, and the registration fee at 2% would be Rs 2,10,000, bringing the total fees together to Rs 9,45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Velacheri Road (Between Acquatic Complex & Sardarpatel Road)?

The Sub Registrar Office that covers Velacheri Road (Between Acquatic Complex & Sardarpatel Road) is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Venkatapuram. It serves as the basis for calculating the stamp duty and registration fees that need to be paid at the time of registration.

When a property is bought or sold, the transaction must be registered at the local Sub Registrar Office, and the guideline value will be used to determine the applicable fees. Buyers should be aware of the guideline value to ensure they are prepared for the costs associated with the registration process.

Frequently asked questions

What is the current guideline value of Velacheri Road (Between Acquatic Complex & Sardarpatel Road)?

The current guideline value of Velacheri Road (Between Acquatic Complex & Sardarpatel Road) is Rs 10,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Over the years, the guideline value has increased significantly, from Rs 1,509 per sq.ft in 2002 to Rs 10,500 per sq.ft in 2024, which is an overall increase of 596%.

What is the land classification for this area?

The land classification for Velacheri Road (Between Acquatic Complex & Sardarpatel Road) is Commercial Class I Type - II.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone.

How is the stamp duty calculated for property transactions?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,05,00,000, the stamp duty would be Rs 7,35,000 at 7%.