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Guideline Value

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Guideline Value for Ganesh Avenue, Nethaji Colony 1st Cross Street

₹4400/sq.ft.

The guideline value for Ganesh Avenue, Nethaji Colony 1st 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 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 Ganesh Avenue, Nethaji Colony 1st Cross Street

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Ganesh Avenue, Nethaji Colony 1st Cross Street guideline value

The current guideline value for Ganesh Avenue, Nethaji Colony 1st Cross 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 falls under the Residential Class II Type - II land classification.

How the guideline value of Ganesh Avenue, Nethaji Colony 1st Cross Street has changed

The guideline value for Ganesh Avenue, Nethaji Colony 1st Cross Street has seen several revisions over the years. The 2017 revision set the value at Rs 2,680 per sq.ft. This was followed by a significant increase in the 2023 revision, where the value rose to Rs 4,000 per sq.ft, marking a 49% increase from the previous revision. The most recent revision in 2024 has further increased the guideline value to Rs 4,400 per sq.ft, a 10% rise from 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no recorded figures for Ganesh Avenue, Nethaji Colony 1st Cross Street for the years 2002, 2003, 2007, and 2012 in the register.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the guideline value for Ganesh Avenue, Nethaji Colony 1st Cross Street.

Stamp duty and registration fee for property in Ganesh Avenue, Nethaji Colony 1st 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, while 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh Avenue, Nethaji Colony 1st Cross Street?

The Ganesh Avenue, Nethaji Colony 1st Cross Street is covered by 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 is an essential factor in property transactions in Velachery. It serves as a benchmark for determining the minimum price at which a property can be registered. When a buyer purchases a property, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees.

Understanding the guideline value is crucial for both buyers and sellers, as it directly impacts the overall costs involved in the transaction. Buyers should be aware that the guideline value may differ from the sale price, and the higher amount will be used for calculating the duties and fees.

Frequently asked questions

What is the current guideline value for Ganesh Avenue, Nethaji Colony 1st Cross Street?

The current guideline value for Ganesh Avenue, Nethaji Colony 1st 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 increased from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the stamp duty for property in Ganesh Avenue, Nethaji Colony 1st Cross Street?

The stamp duty for property in Ganesh Avenue, Nethaji Colony 1st Cross Street is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for this street?

The Velacheri Sub Registrar Office handles property registrations for Ganesh Avenue, Nethaji Colony 1st Cross Street. The office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

Are there other streets with the same guideline value in Velachery?

Yes, there are several other streets in Velachery that share the same guideline value of Rs 4,400 per sq.ft, including Ganesh Avenue, Nethaji Colony 10th Cross Street, 2nd Cross Street, 3rd Cross Street, 4th Cross Street, 5th Cross Street, and 6th Cross Street.