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Guideline Value

Corporate

Guideline Value for A.S.K. Nagar 2nd street

₹3850/sq.ft.

The guideline value for A.s.k. Nagar 2nd Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1500 /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)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on A.s.k. Nagar 2nd Street

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A.S.K. Nagar 2nd street guideline value

The current guideline value of A.S.K. Nagar 2nd street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of A.S.K. Nagar 2nd street has changed

The guideline value for A.S.K. Nagar 2nd street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,500 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in the 2012 revision, marking a rise of 133%. However, the value then decreased to Rs 2,345 per sq.ft in the 2017 revision, a decline of 33%. The 2023 revision brought the value back up to Rs 3,500 per sq.ft, and the most recent 2024 revision set it at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 157%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing A.S.K. Nagar 2nd street's 2024 figure below that median.

Stamp duty and registration fee for property in A.S.K. Nagar 2nd street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers A.S.K. Nagar 2nd street?

The Sub Registrar Office that covers A.S.K. Nagar 2nd street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees that are applicable during the transaction. Buyers and sellers must ensure that they are aware of the current guideline value to avoid any discrepancies during registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of A.S.K. Nagar 2nd street?

The current guideline value of A.S.K. Nagar 2nd street is Rs 3,850 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 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 157% over the years.

What is the registration fee for property in A.S.K. Nagar 2nd street?

The registration fee for property in A.S.K. Nagar 2nd street is calculated based on the guideline value. For example, on a property valued at Rs 38,50,000, the registration fee would be Rs 77,000.

Which Sub Registrar Office covers A.S.K. Nagar 2nd street?

The Velacheri Sub Registrar Office covers A.S.K. Nagar 2nd street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for A.S.K. Nagar 2nd street?

A.S.K. Nagar 2nd street is classified as Residential Class II Type - III, which indicates its intended use for residential purposes.