Guideline Value for Veluchetty Street

Veluchetty Street guideline value

The current guideline value of Veluchetty Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Veluchetty Street has changed

Over the years, the guideline value of Veluchetty Street has seen significant changes. In 2002, the value was Rs 127 per sq.ft, which increased to Rs 157 per sq.ft in 2003, marking a 24% rise. The value continued to rise to Rs 400 per sq.ft in 2007, reflecting a substantial increase of 155%. By 2012, the value was Rs 2,000 per sq.ft, showcasing a remarkable 400% increase from the previous revision. However, from 2012 to 2017, the value decreased by 33% to Rs 1,340 per sq.ft. The value then rose again to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,632%. There are no figures available for the revisions in the years not listed above.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Veluchetty Street is below this median.

• Venkatesachowdry St: Rs 5,500 per sq.ft (2024)
• Venkatesan Street: Rs 5,500 per sq.ft (2024)
• Venkatesa Street: Rs 2,200 per sq.ft (2024)
• Venkateswara Nagar: Rs 1,320 per sq.ft (2024)
• Vasuki Street Ext Balaji Nagar Annex: Rs 1,650 per sq.ft (2024)
• Vasuki Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Veluchetty Street

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, leading to a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Veluchetty Street?

The Sub Registrar Office that covers Veluchetty Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Tambaram. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value serves as a reference point for calculating the applicable fees. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Veluchetty Street?

The current guideline value of Veluchetty Street 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 seen significant changes, increasing from Rs 127 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1,632% over the years.

What is the land classification of Veluchetty Street?

Veluchetty Street is classified as Residential Class I Type - II. This classification is important for understanding the zoning and permissible uses of the property.

Where can I find the Sub Registrar Office for Veluchetty Street?

The Sub Registrar Office for Veluchetty Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Veluchetty Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 22,00,000, leading to a stamp duty of Rs 1,54,000 at 7%.