Guideline Value for Velayutha Pandi Lane

Velayutha Pandi Lane guideline value

The current guideline value for Velayutha Pandi Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This lane is located in Tondaiarpet village under the Royapuram SRO and is classified as Residential Class I Type - I.

How the guideline value of Velayutha Pandi Lane has changed

Over the years, the guideline value for Velayutha Pandi Lane has seen significant changes. In 2007, the value was Rs 700 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a rise of 186%. However, the value dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The value then saw a substantial increase to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

The revisions for the years 2002 and 2003 do not have figures available for this street. Overall, from 2007 to 2024, the guideline value has increased by 214%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1384 streets under the Royapuram SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, placing Velayutha Pandi Lane's 2024 figure above this median.

• Velayutha Pandi Street: Rs 2,200 per sq.ft (2024)
• Veeraraghavan Road: Rs 2,200 per sq.ft (2024)
• Veeraraghavan Lane: Rs 1,600 per sq.ft (2024)
• Venkatachalam Naicken Lane: Rs 2,200 per sq.ft (2024)
• Venkatachalam Naicken Street: Rs 2,200 per sq.ft (2024)
• Venkatachalam Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Velayutha Pandi Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Velayutha Pandi Lane?

The Sub Registrar Office that covers Velayutha Pandi Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is crucial during the registration process of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value of a property, ensuring that all transactions reflect a fair value for taxation purposes.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Velayutha Pandi Lane?

The current guideline value of Velayutha Pandi Lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 214% over the years.

What is the median guideline value in Tondaiarpet?

The median guideline value in Tondaiarpet is Rs 1,600 per sq.ft, with Velayutha Pandi Lane's 2024 figure being above this median.

What are the stamp duty and registration fees for property in Velayutha Pandi Lane?

The stamp duty for a property valued at Rs 22,00,000 would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Velayutha Pandi Lane?

The Royapuram Sub Registrar Office handles property registrations for Velayutha Pandi Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.