Guideline Value for Velayudha chetty street

Velayudha chetty street guideline value

The current guideline value for Velayudha chetty street 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 street has changed

The guideline value for Velayudha chetty street has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 3,600 per sq.ft in 2012. However, this value dropped to Rs 2,412 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 3,600 per sq.ft, followed by the current value of Rs 3,900 per sq.ft from the 2024 revision, reflecting an increase of 8% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 160%. Notably, there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, placing Velayudha chetty street's 2024 figure below this median.

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

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, making the total cost Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Velayudha chetty street?

The Sub Registrar Office that covers Velayudha chetty street 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 essential when buying or selling property in Egmore, as it determines the stamp duty and registration fees payable during the transaction. The value is set by the government and is updated periodically to reflect market conditions.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Velayudha chetty street?

The current guideline value of Velayudha chetty street 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 1,500 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 160% over the years.

What are the stamp duty and registration fees for property in Velayudha chetty street?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,51,000.

Which Sub Registrar Office covers Velayudha chetty street?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, covers Velayudha chetty street.

What is the land classification of Velayudha chetty street?

Velayudha chetty street is classified as Residential Class III Type - I.