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Guideline Value

Corporate

Guideline Value for Velachery Road/Gulmohar Avenue

₹13200/sq.ft.

The guideline value for Velachery Road/gulmohar Avenue 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 Road/gulmohar Avenue

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Velachery Road/Gulmohar Avenue guideline value

The current guideline value for Velachery Road/Gulmohar Avenue is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Commercial Class I Type - I.

How the guideline value of Velachery Road/Gulmohar Avenue has changed

In the 2012 revision, the guideline value was Rs 12,000 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 12,000 per sq.ft. 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%. It is important to note that 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 have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for Velachery Road/Gulmohar Avenue is above this median.

Stamp duty and registration fee for property in Velachery Road/Gulmohar Avenue

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the 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. 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 Road/Gulmohar Avenue?

The Velacheri Sub Registrar Office covers Velachery Road/Gulmohar Avenue, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is a crucial figure used during the registration of property transactions in Velachery. It helps determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is considered along with the sale price. The higher of the two is used to calculate the applicable duties and fees, ensuring that the registration process is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Velachery Road/Gulmohar Avenue?

The current guideline value of Velachery Road/Gulmohar Avenue is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

From the 2012 revision to the 2023 revision, the guideline value remained at Rs 12,000 per sq.ft. However, it increased to Rs 13,200 per sq.ft in the 2024 revision, marking a 10% rise from 2023.

What is the land classification for Velachery Road/Gulmohar Avenue?

Velachery Road/Gulmohar Avenue is classified as Commercial Class I Type - I under the land classification system.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 11,88,000 in fees.

Which office handles registrations for Velachery Road/Gulmohar Avenue?

The Velacheri Sub Registrar Office handles registrations for Velachery Road/Gulmohar Avenue, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.