Guideline Value

Corporate

Guideline Value for Belshakthi Nagar 1st Main Road

₹3850/sq.ft.

The guideline value for Belshakthi Nagar 1st Main Road 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 N/A
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 Belshakthi Nagar 1st Main Road

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Belshakthi Nagar 1st Main Road guideline value

The current guideline value of Belshakthi Nagar 1st Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Belshakthi Nagar 1st Main Road has changed

Over the years, the guideline value for Belshakthi Nagar 1st Main Road has seen several revisions. The 2012 revision set the value at Rs 3,500 per sq.ft, which was a decrease of 33% from the Rs 2,345 per sq.ft established in the 2017 revision. The 2023 revision increased the value to Rs 3,500 per sq.ft, and the latest 2024 revision has raised it to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change in the guideline value is a 10% increase. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Velachery

Belshakthi Nagar 1st Main Road's 2024 guideline value of Rs 3,850 per sq.ft is below the median guideline value of Rs 4,400 per sq.ft for the 2,691 streets in Velachery under the Velacheri SRO, which range from Rs 3,300 to Rs 13,200 per sq.ft.

Stamp duty and registration fee for property in Belshakthi Nagar 1st Main Road

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, 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Belshakthi Nagar 1st Main Road?

The Sub Registrar Office that covers Belshakthi Nagar 1st Main Road 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 is a crucial factor when registering property transactions in Velachery. It serves as a basis for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions, protecting both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value for Belshakthi Nagar 1st Main Road?

The current guideline value for Belshakthi Nagar 1st Main Road 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 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, which is a 10% increase. It was Rs 2,345 per sq.ft in 2017, and Rs 3,500 per sq.ft in 2012, showing an overall increase of 10% from 2012 to 2024.

What is the stamp duty for property in Belshakthi Nagar 1st Main Road?

The stamp duty for property in Belshakthi Nagar 1st Main Road is calculated at 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500.

What is the registration fee for property transactions?

The registration fee is charged at 2% of the guideline value or sale price. In the example of a property valued at Rs 38,50,000, the registration fee would be Rs 77,000.

Where is the Sub Registrar Office for Belshakthi Nagar 1st Main Road located?

The Velacheri Sub Registrar Office, which covers Belshakthi Nagar 1st Main Road, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.