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Guideline Value

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Guideline Value for Ganesh Avenue, Nethaji Colony 10tht Cross Street

₹4400/sq.ft.

The guideline value for Ganesh Avenue, Nethaji Colony 10tht Cross 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 Ganesh Avenue, Nethaji Colony 10tht Cross Street

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Ganesh Avenue, Nethaji Colony 10tht Cross Street guideline value

The current guideline value of Ganesh Avenue, Nethaji Colony 10tht Cross Street 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 Ganesh Avenue, Nethaji Colony 10tht Cross Street has changed

The guideline value for Ganesh Avenue, Nethaji Colony 10tht Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 4,000 per sq.ft in the 2023 revision, and then to Rs 4,400 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the value rose by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, the guideline value increased by 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Velachery

In Velachery, there are a total of 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 Ganesh Avenue, Nethaji Colony 10tht Cross Street. Below are other streets in Velachery with their respective guideline values:

Stamp duty and registration fee for property in Ganesh Avenue, Nethaji Colony 10tht Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganesh Avenue, Nethaji Colony 10tht Cross Street?

The Ganesh Avenue, Nethaji Colony 10tht Cross Street 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 during the registration process of property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees payable by the buyer, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, both the buyer and seller must consider the guideline value to avoid discrepancies during registration. The higher of the guideline value or the sale price will be used to calculate the stamp duty, which is an essential part of the property transfer process.

Frequently asked questions

What is the current guideline value of Ganesh Avenue, Nethaji Colony 10tht Cross Street?

The current guideline value of Ganesh Avenue, Nethaji Colony 10tht Cross 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, which was an increase of 49% from the previous period.

What is the land classification for Ganesh Avenue, Nethaji Colony 10tht Cross Street?

The land classification for Ganesh Avenue, Nethaji Colony 10tht Cross Street is Residential Class II Type - II.

What are the stamp duty rates applicable for properties in this area?

The stamp duty rate for properties in Ganesh Avenue, Nethaji Colony 10tht Cross Street is 7%. This is calculated on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Ganesh Avenue, Nethaji Colony 10tht Cross Street?

The Sub Registrar Office covering Ganesh Avenue, Nethaji Colony 10tht Cross Street is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.