Guideline Value for Velayudha chetty 1st lane

Velayudha chetty 1st lane guideline value

The current guideline value of Velayudha chetty 1st lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Residential Class III Type - I.

How the guideline value of Velayudha chetty 1st lane has changed

The guideline value for Velayudha chetty 1st lane has seen several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 560 per sq.ft. This increased to Rs 1,200 per sq.ft in 2007, marking a significant rise of 114%. By 2012, the value adjusted to Rs 3,600 per sq.ft, reflecting a substantial increase of 200% from the previous revision. However, in 2017, the value decreased to Rs 2,412 per sq.ft, which was a decline of 33%. The guideline value then rose to Rs 3,600 per sq.ft in 2023, and currently stands at Rs 3,900 per sq.ft from the 2024 revision, showing an increase of 8% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 596%. The register does not contain figures for the year 2002 for this street.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO, with guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 7,100 per sq.ft, and Velayudha chetty 1st lane's 2024 figure is below this median.

• Velayudha Achary street: Rs 3,900 per sq.ft (2024)
• Velayudha chetty 2nd lane: Rs 3,900 per sq.ft (2024)
• Velayudha chetty 3rd lane: Rs 3,900 per sq.ft (2024)
• Velayudha chetty 4th lane: Rs 3,900 per sq.ft (2024)
• Velayudha chetty street: Rs 3,900 per sq.ft (2024)
• Vembuli amman huts: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Velayudha chetty 1st lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost together to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Velayudha chetty 1st lane?

The Sub Registrar Office that covers Velayudha chetty 1st lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps to establish a fair transaction price. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Velayudha chetty 1st lane?

The current guideline value of Velayudha chetty 1st lane is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 560 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, with various increases and decreases in between. Notably, there was a significant increase of 200% from 2007 to 2012 and a decrease of 33% from 2012 to 2017.

What is the stamp duty rate for properties in Velayudha chetty 1st lane?

The stamp duty rate for properties in Velayudha chetty 1st lane is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Velayudha chetty 1st lane located?

The Sub Registrar Office for Velayudha chetty 1st lane is located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value in Egmore?

The median guideline value in Egmore is Rs 7,100 per sq.ft, with Velayudha chetty 1st lane's current value being below this median.