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Guideline Value

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Guideline Value for Gandhi SalaiValllar Street (Vijaya Nagar)

₹4400/sq.ft.

The guideline value for Gandhi Salaivalllar Street (vijaya Nagar) 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 Salaivalllar Street (vijaya Nagar)

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Gandhi SalaiValllar Street (Vijaya Nagar) guideline value

The current guideline value of Gandhi SalaiValllar Street (Vijaya Nagar) is Rs 4,400 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 - II.

How the guideline value of Gandhi SalaiValllar Street (Vijaya Nagar) has changed

Over the years, the guideline value of Gandhi SalaiValllar Street has seen several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which was followed by a decrease to Rs 2,680 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 4,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 is Rs 4,400 per sq.ft, which is the same as the current value for Gandhi SalaiValllar Street.

Stamp duty and registration fee for property in Gandhi SalaiValllar Street (Vijaya Nagar)

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 charges to Rs 3,96,000. It is important to note that 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 Gandhi SalaiValllar Street (Vijaya Nagar)?

The Sub Registrar Office that covers Gandhi SalaiValllar Street (Vijaya 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 details.

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

When buying or selling property in Velachery, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is set by the government and reflects the minimum value at which properties in a particular area can be registered.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with legal requirements.

Frequently asked questions

What is the current guideline value of Gandhi SalaiValllar Street?

The current guideline value of Gandhi SalaiValllar Street (Vijaya Nagar) 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, which is a 10% increase. It was Rs 2,680 per sq.ft in 2017, marking a 49% rise from that year to 2023.

What is the land classification for this street?

The land classification for Gandhi SalaiValllar Street (Vijaya Nagar) is Residential Class II Type - II, indicating its designation for residential use.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles property registrations for the area.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.