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Guideline Value

Corporate

Guideline Value for Velachery Main Road - 1st Segment

₹13200/sq.ft.

The guideline value for Velachery Main Road - 1st Segment 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 N/A
From 1-4-2012 To 8-6-2017 ₹12000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹3500 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
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 Velachery Main Road - 1st Segment

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Velachery Main Road - 1st Segment guideline value

The current guideline value of Velachery Main Road - 1st Segment is Rs 13,200 per sq.ft, effective from 1 July 2024. This segment is located in Velachery village, under the Velacheri SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Velachery Main Road - 1st Segment has changed

The guideline value for this segment has undergone several revisions over the years. In 2007, the guideline value was Rs 3,500 per sq.ft, which increased significantly to Rs 12,000 per sq.ft in 2012, marking a change of +243%. The value remained unchanged at Rs 12,000 per sq.ft until the 2023 revision, which set it at Rs 12,000 per sq.ft again. The most recent revision in 2024 increased the value to Rs 13,200 per sq.ft, reflecting a change of +10% from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by +277%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Velachery Main Road - 1st Segment above this median.

Stamp duty and registration fee for property in Velachery Main Road - 1st Segment

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and 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 Velachery Main Road - 1st Segment?

The Velacheri Sub Registrar Office covers Velachery Main Road - 1st Segment. The office is 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 plays a crucial role in property transactions in Velachery. It is used to determine the stamp duty and registration fees that must be paid during the registration of property transactions. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value is assessed to calculate the applicable fees. It is essential to consider the guideline value as it reflects the official valuation of the property for legal and tax purposes.

Frequently asked questions

What is the current guideline value of Velachery Main Road - 1st Segment?

The current guideline value of Velachery Main Road - 1st Segment 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 from Rs 3,500 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, reflecting an overall increase of +277% over these years.

What is the land classification for Velachery Main Road - 1st Segment?

Velachery Main Road - 1st Segment is classified as Commercial Class I Type - I.

What are the stamp duty rates for property transactions?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% of the guideline value.

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.