Guideline Value

Corporate

Guideline Value for Canara Bank Lane Sarathi Nagar

₹13200/sq.ft.

The guideline value for Canara Bank Lane Sarathi Nagar in Velachery village (Velacheri SRO, Chennai zone) is Rs 13200 per sq.ft, effective 1 July 2024. It was Rs 12000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹13200 /sq.ft.
From 1-4-2023 ₹12000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹8040 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹12000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹3963 /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 Canara Bank Lane Sarathi Nagar

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Canara Bank Lane Sarathi Nagar guideline value

The current guideline value of Canara Bank Lane Sarathi Nagar is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Canara Bank Lane Sarathi Nagar has changed

Over the years, the guideline value of Canara Bank Lane Sarathi Nagar has seen significant changes. The earliest recorded figure is from 2007, where the value was Rs 3,963 per sq.ft. This increased to Rs 12,000 per sq.ft in 2012, marking a substantial rise of 203%. However, it then decreased to Rs 8,040 per sq.ft in 2017, reflecting a decline of 33%. The value rebounded to Rs 12,000 per sq.ft in 2023, before reaching the current figure of Rs 13,200 per sq.ft in 2024, which is a 10% increase from the previous year.

In summary, from 2017 to 2023, the value increased by 49%. The overall change from the 2007 figure to the current 2024 figure shows an increase of 233%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

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, with a median value of Rs 4,400 per sq.ft. Canara Bank Lane Sarathi Nagar's 2024 figure is significantly above this median.

Stamp duty and registration fee for property in Canara Bank Lane Sarathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Canara Bank Lane Sarathi Nagar?

The Sub Registrar Office that covers Canara Bank Lane Sarathi Nagar 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 critical factor in property transactions in Velachery. It serves as the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property sales. Buyers and sellers must consider this value when negotiating sale prices, as the registration will be based on the higher of the guideline value or the agreed sale price.

When registering a property, the guideline value helps determine the applicable stamp duty and registration fees. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Canara Bank Lane Sarathi Nagar?

The current guideline value of Canara Bank Lane Sarathi Nagar is Rs 13,200 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 3,963 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, showing an overall increase of 233% over the years.

What is the registration office for Canara Bank Lane Sarathi Nagar?

The registration office for Canara Bank Lane Sarathi Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Canara Bank Lane Sarathi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,32,00,000, the stamp duty at 7% would be Rs 9,24,000.

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

Other streets in Velachery include Cart Track Lane, Cart Track Road, and Bye Pass Road, with values ranging from Rs 4,400 to Rs 13,200 per sq.ft as of 2024.