Guideline Value

Corporate

Guideline Value for Ex-serviceman Colony 1st Main Road

₹3850/sq.ft.

The guideline value for Ex-serviceman Colony 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 ₹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 Ex-serviceman Colony 1st Main Road

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Ex-serviceman Colony 1st Main Road guideline value

The current guideline value of Ex-serviceman Colony 1st Main Road 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 Ex-serviceman Colony 1st Main Road has changed

The guideline value for Ex-serviceman Colony 1st Main Road has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 1,500 per sq.ft. This figure increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 133%. However, the value then decreased to Rs 2,345 per sq.ft in 2017, reflecting a drop of 33%. Following this, the value surged to Rs 3,500 per sq.ft in 2023, and then to Rs 3,850 per sq.ft in the 2024 revision, indicating a growth of 10% from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 157%. The changes between each revision highlight the fluctuations in property values in this locality over the years.

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 guideline value for these streets is Rs 4,400 per sq.ft, placing the 2024 figure for Ex-serviceman Colony 1st Main Road below this median.

Stamp duty and registration fee for property in Ex-serviceman Colony 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 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, resulting in a total of Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ex-serviceman Colony 1st Main Road?

The Ex-serviceman Colony 1st Main Road is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the transaction process.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's value, as established by the guideline value register.

Frequently asked questions

What is the current guideline value for Ex-serviceman Colony 1st Main Road?

The current guideline value for Ex-serviceman Colony 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 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 157% over this period.

What is the stamp duty for property in Ex-serviceman Colony 1st Main Road?

The stamp duty for property in Ex-serviceman Colony 1st Main Road is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Velacheri Sub Registrar Office covers Ex-serviceman Colony 1st Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Ex-serviceman Colony 1st Main Road?

The land classification for Ex-serviceman Colony 1st Main Road is Residential Class II Type - III.