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Guideline Value

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Guideline Value for Gandhi Salai, Mahalakshmi Street,

₹4400/sq.ft.

The guideline value for Gandhi Salai, Mahalakshmi 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 ₹4000 /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 Gandhi Salai, Mahalakshmi Street,

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Gandhi Salai, Mahalakshmi Street, guideline value

The current guideline value of Gandhi Salai, Mahalakshmi 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 is classified as Residential Class II Type - II.

How the guideline value of Gandhi Salai, Mahalakshmi Street, has changed

Over the years, the guideline value of Gandhi Salai, Mahalakshmi Street, has seen several revisions. The 2012 revision set the guideline value at Rs 4,000 per sq.ft, which was followed by a decrease to Rs 2,680 per sq.ft in 2017. The 2023 revision brought it back up to Rs 4,000 per sq.ft, and the most recent 2024 revision has set it at Rs 4,400 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 10% increase, bringing the overall change from 2012 to 2024 to a total increase of 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value. The values range from Rs 3,300 to Rs 13,200 per sq.ft, with the median value being Rs 4,400 per sq.ft. The guideline value for Gandhi Salai, Mahalakshmi Street, aligns with this median.

Stamp duty and registration fee for property in Gandhi Salai, Mahalakshmi 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, calculated at 7%, would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Gandhi Salai, Mahalakshmi Street,?

The Sub Registrar Office that covers Gandhi Salai, Mahalakshmi 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures transparency and helps in maintaining a fair process in property transactions.

Frequently asked questions

What is the current guideline value of Gandhi Salai, Mahalakshmi Street?

The current guideline value of Gandhi Salai, Mahalakshmi 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 changed from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, marking a 10% increase. It was Rs 2,680 per sq.ft in 2017 and Rs 4,000 per sq.ft in 2012.

What is the land classification for Gandhi Salai, Mahalakshmi Street?

The land classification for Gandhi Salai, Mahalakshmi Street, is Residential Class II Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Gandhi Salai, Mahalakshmi Street, is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. These fees are based on the higher of the guideline value or the sale price.