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Guideline Value

Corporate

Guideline Value for Gandhi Road, Natrajan Street

₹4400/sq.ft.

The guideline value for Gandhi Road, Natrajan Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
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 Gandhi Road, Natrajan Street

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Gandhi Road, Natrajan Street guideline value

The current guideline value of Gandhi Road, Natrajan Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Gandhi Road, Natrajan Street has changed

The guideline value for Gandhi Road, Natrajan Street has seen several revisions over the years. The 2017 revision set the value at Rs 2,680 per sq.ft, which was then increased to Rs 4,000 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 4,400 per sq.ft, marking a 10% increase from the previous year and a significant 64% increase from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, and the overall change from 2017 to 2024 reflects a substantial rise in the guideline value.

Guideline values in Velachery

In Velachery village, 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, which is equal to the current guideline value of Gandhi Road, Natrajan Street.

Stamp duty and registration fee for property in Gandhi Road, Natrajan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the 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 Gandhi Road, Natrajan Street?

The Sub Registrar Office covering Gandhi Road, Natrajan 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 is a crucial factor when registering property transactions in Velachery. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated accurately based on this value.

When buying or selling property, the guideline value helps in establishing a fair transaction price, as it reflects the official value set by the government. Buyers and sellers should be aware of the current guideline value to make informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Gandhi Road, Natrajan Street?

The current guideline value of Gandhi Road, Natrajan Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.

Where is the Sub Registrar Office located?

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

What is the land classification for Gandhi Road, Natrajan Street?

The land classification for Gandhi Road, Natrajan Street is Residential Class II Type - II, indicating its designated use for residential purposes.