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Guideline Value

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Guideline Value for Ganesh Avenue, Nethaji Colony 7th Cross Street

₹4400/sq.ft.

The guideline value for Ganesh Avenue, Nethaji Colony 7th 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 N/A
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 7th Cross Street

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Ganesh Avenue, Nethaji Colony 7th Cross Street guideline value

The current guideline value of Ganesh Avenue, Nethaji Colony 7th 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 7th Cross Street has changed

In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 4,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 4,400 per sq.ft, reflecting a 10% rise from the previous year. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

The register has no figure for the years 2002, 2003, 2007, and 2017 for this street. Therefore, the only revisions available are from 2012, 2023, and 2024.

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 for these streets is Rs 4,400 per sq.ft, which matches the current figure for Ganesh Avenue, Nethaji Colony 7th Cross Street.

Stamp duty and registration fee for property in Ganesh Avenue, Nethaji Colony 7th 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 amounts to Rs 44,00,000. The stamp duty is calculated at 7%, which totals Rs 3,08,000, while the registration fee is 2%, amounting to Rs 88,000. Therefore, the total cost for duty and fees together is 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 detailed calculations.

Which Sub Registrar Office covers Ganesh Avenue, Nethaji Colony 7th Cross Street?

The Ganesh Avenue, Nethaji Colony 7th Cross Street falls under the jurisdiction of 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 an essential factor in the registration process of property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ganesh Avenue, Nethaji Colony 7th Cross Street?

The current guideline value of Ganesh Avenue, Nethaji Colony 7th 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 seen a 10% increase from Rs 4,000 per sq.ft in 2012 to Rs 4,400 per sq.ft in 2024. There was no change in the value from 2012 to 2023, where it remained at Rs 4,000 per sq.ft.

What is the land classification for Ganesh Avenue, Nethaji Colony 7th Cross Street?

The land classification for Ganesh Avenue, Nethaji Colony 7th Cross Street is Residential Class II Type - II.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 44,00,000, the stamp duty is Rs 3,08,000 and the registration fee is Rs 88,000, totaling Rs 3,96,000. These fees are based on the guideline value or sale price, whichever is higher.

Which office handles the registration for Ganesh Avenue, Nethaji Colony 7th Cross Street?

The Velacheri Sub Registrar Office handles the registration for Ganesh Avenue, Nethaji Colony 7th Cross Street. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.