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Guideline Value

Corporate

Guideline Value for Ashtalakshmi Nagar 12th street

₹3850/sq.ft.

The guideline value for Ashtalakshmi Nagar 12th 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 Ashtalakshmi Nagar 12th Street

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Ashtalakshmi Nagar 12th street guideline value

The current guideline value of Ashtalakshmi Nagar 12th street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Ashtalakshmi Nagar 12th street has changed

Over the years, the guideline value for Ashtalakshmi Nagar 12th street has seen several revisions. The earliest recorded revision was in 2007, where the value was Rs 1,500 per sq.ft. This figure increased to Rs 3,500 per sq.ft in 2012, marking a rise of 133%. However, it then decreased to Rs 2,345 per sq.ft in 2017, which was a decline of 33%. The value then increased significantly to Rs 3,500 per sq.ft in 2023, and further rose to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no recorded figures for the revisions in 2002 and 2003 for this street. The overall change from the 2007 revision to the current 2024 guideline value is an increase of 157%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, making the current value for Ashtalakshmi Nagar 12th street below this median.

Stamp duty and registration fee for property in Ashtalakshmi Nagar 12th street

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

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

Which Sub Registrar Office covers Ashtalakshmi Nagar 12th street?

The Sub Registrar Office that covers Ashtalakshmi Nagar 12th 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This ensures that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Ashtalakshmi Nagar 12th street?

The current guideline value of Ashtalakshmi Nagar 12th 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 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 are the stamp duty and registration fees for property in Ashtalakshmi Nagar 12th street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,46,500.

Which Sub Registrar Office covers Ashtalakshmi Nagar 12th street?

The Velacheri Sub Registrar Office covers Ashtalakshmi Nagar 12th street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Ashtalakshmi Nagar 12th street?

The land classification for Ashtalakshmi Nagar 12th street is Residential Class II Type - III.