Guideline Value

Corporate

Guideline Value for Velmurugan Colony & Nagar

₹2970/sq.ft.

The guideline value for Velmurugan Colony & Nagar in Hastinapuram village (Pallavaram SRO, Chengalpattu zone) is Rs 2970 per sq.ft, effective 1 July 2024. It was Rs 2700 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Hastinapuram

Village

Pallavaram

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2970 /sq.ft.
From 1-4-2023 ₹2700 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1809 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2700 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹700 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044
044-22413425
[email protected]

DRO (District Registrar Office)

Tambaram District Registrar Office,no.47/8,venkatesan Street,tambaram (west),chennai- 600 045.
null
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Velmurugan Colony & Nagar

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Velmurugan Colony & Nagar guideline value

The current guideline value of Velmurugan Colony & Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Hastinapuram village under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Velmurugan Colony & Nagar has changed

The guideline value for Velmurugan Colony & Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a rise of 286%. However, the value then decreased to Rs 1,809 per sq.ft in 2017, a drop of 33%. From 2017 to 2023, the value increased to Rs 2,700 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 set the value at Rs 2,970 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 324%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 2,970 per sq.ft, which is equal to the current value for Velmurugan Colony & Nagar.

Stamp duty and registration fee for property in Velmurugan Colony & Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total cost to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Velmurugan Colony & Nagar?

The Sub Registrar Office that covers Velmurugan Colony & Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the higher amount between the sale price and the guideline value is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Velmurugan Colony & Nagar?

The current guideline value of Velmurugan Colony & Nagar is Rs 2,970 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 700 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 324% over the years.

What are the other streets in Hastinapuram with their guideline values?

Other streets in Hastinapuram include Venkatram Nagar 1st Cross Street, Venkatram Nagar 1st Main Road, Venkatram Nagar 2nd Cross Street, Venkatram Nagar 2nd Main Road, Venkatram Nagar 3rd Cross Street, and Venkatram Nagar 3rd Main Road, all valued at Rs 4,400 per sq.ft in 2024.

What is the stamp duty rate for properties in Velmurugan Colony & Nagar?

The stamp duty rate for properties in Velmurugan Colony & Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Velmurugan Colony & Nagar?

The Sub Registrar Office for Velmurugan Colony & Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.