Guideline Value for Velayudha chetty 4th lane

Velayudha chetty 4th lane guideline value

The current guideline value for Velayudha chetty 4th 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 it falls under the Residential Class III Type - I land classification.

How the guideline value of Velayudha chetty 4th lane has changed

Over the years, the guideline value for Velayudha chetty 4th lane has seen significant changes. In 2003, the value was Rs 560 per sq.ft, which rose to Rs 1,200 per sq.ft in 2007, marking an increase of 114%. By 2012, the value reached Rs 3,600 per sq.ft, reflecting a remarkable 200% rise from the previous revision. However, between 2012 and 2017, the value decreased to Rs 2,412 per sq.ft, a drop of 33%. The subsequent revision in 2023 brought the value back up to Rs 3,600 per sq.ft, and the latest revision in 2024 has set it at Rs 3,900 per sq.ft, an increase of 8% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 596%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value for Velayudha chetty 4th lane is below this median.

• Velayudha chetty 3rd lane: Rs 3,900 per sq.ft (2024)
• Velayudha chetty street: Rs 3,900 per sq.ft (2024)
• Velayudha chetty 2nd lane: Rs 3,900 per sq.ft (2024)
• Velayudha chetty 1st lane: Rs 3,900 per sq.ft (2024)
• Velayudha Achary 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 4th lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, resulting in a total of 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 details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Velayudha chetty 4th lane?

The Sub Registrar Office that covers Velayudha chetty 4th 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 plays a crucial role when buying or selling property in Egmore. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must be aware that the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to ensure that the guideline value is accurately reflected in the documentation to avoid any discrepancies during the registration process. This helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value for Velayudha chetty 4th lane?

The current guideline value for Velayudha chetty 4th 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 significantly from Rs 560 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 596% over this period.

What is the registration office for Velayudha chetty 4th lane?

The registration office for Velayudha chetty 4th lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the total stamp duty and registration fees would amount to Rs 3,51,000.

What is the land classification for Velayudha chetty 4th lane?

Velayudha chetty 4th lane falls under the Residential Class III Type - I land classification, which is important for understanding the property's zoning and usage regulations.