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Guideline Value

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Guideline Value for Ganesh Avenue, Nethaji Colony 2nd Cross Street

₹4400/sq.ft.

The guideline value for Ganesh Avenue, Nethaji Colony 2nd 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 2nd Cross Street

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Ganesh Avenue, Nethaji Colony 2nd Cross Street guideline value

The current guideline value of Ganesh Avenue, Nethaji Colony 2nd 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 2nd Cross Street has changed

In the 2017 revision, the guideline value for Ganesh Avenue, Nethaji Colony 2nd Cross Street was Rs 2,680 per sq.ft. This value increased significantly to Rs 4,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw another increase of 10%, bringing the current guideline value to Rs 4,400 per sq.ft.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

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 equal to the current guideline value of Ganesh Avenue, Nethaji Colony 2nd Cross Street.

Stamp duty and registration fee for property in Ganesh Avenue, Nethaji Colony 2nd 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 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganesh Avenue, Nethaji Colony 2nd Cross Street?

The Ganesh Avenue, Nethaji Colony 2nd 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 additional assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Ganesh Avenue, Nethaji Colony 2nd Cross Street?

The current guideline value of Ganesh Avenue, Nethaji Colony 2nd 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 an overall increase of 64% over this period.

What is the stamp duty for property in Ganesh Avenue, Nethaji Colony 2nd Cross Street?

The stamp duty for property in Ganesh Avenue, Nethaji Colony 2nd Cross Street is 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Velacheri Sub Registrar Office covers Ganesh Avenue, Nethaji Colony 2nd Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

Where can I find more information about guideline values?

You can find more information about guideline values and related details on the official Registration Department's guideline value register (TNReginet).