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Guideline Value

Corporate

Guideline Value for Velayudam Colony 1st Street

₹4400/sq.ft.

The guideline value for Velayudam Colony 1st Street in Saligramam village (Virugambakkam SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Saligramam

Village

Virugambakkam

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹850 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹601 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹550 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[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 Velayudam Colony 1st Street

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Velayudam Colony 1st Street guideline value

The current guideline value of Velayudam Colony 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Velayudam Colony 1st Street has changed

The guideline value for Velayudam Colony 1st Street has undergone several revisions over the years. In 2002, the value was Rs 550 per sq.ft, which increased to Rs 601 per sq.ft in 2003. Following this, the value saw a rise to Rs 850 per sq.ft in 2007, and then it significantly jumped to Rs 4,000 per sq.ft in 2012. However, it dropped to Rs 2,680 per sq.ft in 2017 before climbing back to Rs 4,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft.

Between the revisions, notable changes include a 10% increase from 2023 to 2024, a substantial 49% rise from 2017 to 2023, and a 371% increase from 2007 to 2012. The value decreased by 33% from 2012 to 2017. Overall, from 2002 to 2024, the guideline value has increased by 700%. There are no figures for other years in the register for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which is equal to the guideline value for Velayudam Colony 1st Street.

Stamp duty and registration fee for property in Velayudam Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, leading to a total of Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Velayudam Colony 1st Street?

The Velayudam Colony 1st Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Velayudam Colony 1st Street?

The current guideline value of Velayudam Colony 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 550 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 700% over this period.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Velayudam Colony 1st Street?

The Virugambakkam Sub Registrar Office covers Velayudam Colony 1st Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Velayudam Colony 1st Street?

Velayudam Colony 1st Street is classified as Residential Class II Type - I.