Guideline Value for Velayudha chetty 2nd lane

Velayudha chetty 2nd lane guideline value

The current guideline value of Velayudha chetty 2nd lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class III Type - I.

How the guideline value of Velayudha chetty 2nd lane has changed

The guideline value for Velayudha chetty 2nd lane has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 560 per sq.ft. This increased to Rs 1,200 per sq.ft in 2007, marking a significant rise of 114%. In 2012, the value changed to Rs 3,600 per sq.ft, reflecting an increase of 200% from the previous revision. However, in 2017, it decreased to Rs 2,412 per sq.ft, a decline of 33%. The value then rose to Rs 3,600 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024, which is an increase of 8% from the previous year. The register has no figure for this street in 2002.

Overall, from 2003 to 2024, the guideline value has increased by 596%. The changes between the revisions highlight the fluctuations in the guideline value over the years, with the most significant increase occurring between 2007 and 2012.

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 for these streets is Rs 7,100 per sq.ft, placing Velayudha chetty 2nd lane's 2024 figure below this median.

• Velayudha chetty 1st lane: Rs 3,900 per sq.ft (2024)
• Velayudha chetty 3rd lane: Rs 3,900 per sq.ft (2024)
• Velayudha Achary street: 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 2nd lane

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value totals Rs 39,00,000. The stamp duty at 7% amounts to Rs 2,73,000, while the registration fee at 2% is Rs 78,000, bringing the total cost to Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Velayudha chetty 2nd lane?

The Velayudha chetty 2nd lane falls under the jurisdiction of the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Egmore, as it determines the stamp duty and registration fees that must be paid. When a property transaction occurs, the guideline value serves as a reference point for calculating these costs, ensuring that the government receives the appropriate revenue from property sales.

Additionally, the guideline value helps maintain transparency in property transactions, providing a standardized measure for property values in the area. Buyers and sellers should be aware of the current guideline value to ensure they are adequately prepared for the associated costs during the registration process.

Frequently asked questions

What is the current guideline value of Velayudha chetty 2nd lane?

The current guideline value of Velayudha chetty 2nd lane is Rs 3,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 560 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 596%.

What are the other streets in Egmore with similar guideline values?

Other streets in Egmore with a guideline value of Rs 3,900 per sq.ft in 2024 include Velayudha chetty 1st lane, Velayudha chetty 3rd lane, Velayudha Achary street, Velayudha chetty 4th lane, and Velayudha chetty street.

What is the stamp duty rate for properties in Velayudha chetty 2nd lane?

The stamp duty rate for properties in Velayudha chetty 2nd lane is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Velayudha chetty 2nd lane?

The Sub Registrar Office covering Velayudha chetty 2nd lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.