Guideline Value

Corporate

Guideline Value for Velachery Main Road

₹13200/sq.ft.

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

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Velachery Main Road guideline value

The current guideline value of Velachery Main Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This street 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 has changed

In the 2012 revision, the guideline value was Rs 12,000 per sq.ft. This figure remained unchanged through the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 13,200 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Velachery

In Velachery village, 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 value across these streets is Rs 4,400 per sq.ft, positioning Velachery Main Road's 2024 figure above this median.

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 13,200 per sq.ft, the total guideline value would be 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Velachery Main Road?

The Velacheri Sub Registrar Office covers Velachery Main Road. The office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042, in the Chennai registration zone. 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 an essential factor in the registration process when buying or selling property in Velachery. It determines the minimum value at which a property can be registered, impacting the stamp duty and registration fees payable.

When a property transaction occurs, the guideline value serves as a benchmark for calculating the applicable taxes. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Velachery Main Road?

The current guideline value of Velachery Main 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 increased from Rs 12,000 per sq.ft in 2012 to Rs 12,000 per sq.ft in 2023, and then to Rs 13,200 per sq.ft in 2024, marking a 10% rise from 2023 to 2024.

What are the other streets with the same guideline value in Velachery?

Other streets in Velachery with the same guideline value of Rs 13,200 per sq.ft include Velacheri Taramani Link Road/Varadharajapuram, Velacheri Tambaram Road, and various segments of Velachery Main Road.

What is the registration fee for property in Velachery Main Road?

The registration fee for property in Velachery Main Road is calculated based on the guideline value. For example, for a property valued at Rs 1,32,00,000, the registration fee at 2% would be Rs 2,64,000.

Where can I find the Sub Registrar Office for Velachery?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find more information by visiting the relevant link.