Guideline Value for Velacheri Road

Velacheri Road guideline value

The current guideline value of Velacheri Road in Paruthivakkam village is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Alandur Sub Registrar Office and is classified as Commercial Class I Type - I.

How the guideline value of Velacheri Road has changed

Over the years, the guideline value of Velacheri Road has seen significant changes. In 2007, the value was Rs 800 per sq.ft, which increased dramatically to Rs 5,000 per sq.ft in 2012, marking a rise of 525%. However, this value dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, and most recently to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 588%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Paruthivakkam

In Paruthivakkam, there are 14 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Velacheri Road's 2024 figure above this median.

• Subramaniya Samy Koil Street: Rs 4,400 per sq.ft (2024)
• Pudhupettai Street: Rs 5,000 per sq.ft (2024)
• Paruthivakkam Street: Rs 5,500 per sq.ft (2024)
• Pachaiyamman Koil Street: Rs 5,500 per sq.ft (2024)
• M.K.N. Road: Rs 6,600 per sq.ft (2024)
• Mettu Street/Paris Apts.,: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Velacheri Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total charges to Rs 4,95,000. It is essential 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 Velacheri Road?

The Velacheri Road is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For further assistance, you can find your SRO.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which the property can be registered. When buying or selling property in Paruthivakkam, the guideline value ensures that the registration fees and stamp duties are calculated based on a standardized valuation.

It is important for buyers and sellers to be aware of the guideline value as it impacts the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during property dealings in the area.

Frequently asked questions

What is the current guideline value of Velacheri Road?

The current guideline value of Velacheri Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 588% over the years.

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

Other streets in Paruthivakkam include Subramaniya Samy Koil Street at Rs 4,400 per sq.ft, Pudhupettai Street at Rs 5,000 per sq.ft, and M.K.N. Road at Rs 6,600 per sq.ft, among others.

What is the stamp duty for property in Velacheri Road?

The stamp duty for property in Velacheri Road is calculated at 7% of the guideline value, which amounts to Rs 3,85,000 for a 1,000 sq.ft plot at the current rate.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.