Guideline Value for Velachery Main Road

Velachery Main Road guideline value

The current guideline value of Velachery Main Road in Chembakkam village is Rs 4,300 per sq.ft, effective from 1 July 2024. This property falls under the Selaiyur SRO and is classified as Residential Special Type - III.

How the guideline value of Velachery Main Road has changed

The guideline value for Velachery Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 4,000 per sq.ft in the 2023 revision, and most recently, it has risen to Rs 4,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been an 8% increase. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing the Velachery Main Road guideline value above this median.

• Veeramamunivar Street: Rs 1,600 per sq.ft (2024)
• Vembuli Bhavanandhiar Street Extn: Rs 1,400 per sq.ft (2024)
• Vembuli Nagar: Rs 1,400 per sq.ft (2024)
• Vembuli Nagar 1st Street: Rs 1,400 per sq.ft (2024)
• Vembuli Nagar 2nd Street: Rs 1,400 per sq.ft (2024)
• Vembuli Nagar Main Road: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Velachery Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,300 per sq.ft, the total guideline value would be Rs 43,00,000. The stamp duty at 7% would amount to Rs 3,01,000, while the registration fee at 2% would be Rs 86,000, bringing the total to Rs 3,87,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Velachery Main Road?

The Velachery Main Road falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value or the sale price, whichever is higher, is used to calculate these fees. This ensures that the fees reflect the property's value accurately at the time of registration.

Frequently asked questions

What is the current guideline value of Velachery Main Road?

The current guideline value of Velachery Main Road is Rs 4,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,300 per sq.ft in 2024.

What is the land classification for Velachery Main Road?

Velachery Main Road is classified as Residential Special Type - III.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Chembakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 43,00,000 would incur a stamp duty of Rs 3,01,000 at 7%.