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Guideline Value

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Guideline Value for Ganesh Avenue, Nethaji Colony 8th Cross Street

₹4400/sq.ft.

The guideline value for Ganesh Avenue, Nethaji Colony 8th 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 8th Cross Street

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Ganesh Avenue, Nethaji Colony 8th Cross Street guideline value

The current guideline value of Ganesh Avenue, Nethaji Colony 8th 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 8th Cross Street has changed

Looking at the revisions, the guideline value for Ganesh Avenue, Nethaji Colony 8th Cross Street has seen several changes over the years. The 2012 revision recorded a guideline value of Rs 4,000 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the value increased to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Thus, the only recorded values are from the 2012, 2023, and 2024 revisions, showing an overall increase of 10% from 2012 to 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 in this area is Rs 4,400 per sq.ft, which is equal to the current guideline value of Ganesh Avenue, Nethaji Colony 8th Cross Street.

Stamp duty and registration fee for property in Ganesh Avenue, Nethaji Colony 8th 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 at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, these fees total Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ganesh Avenue, Nethaji Colony 8th Cross Street?

The Ganesh Avenue, Nethaji Colony 8th Cross Street falls under 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 information.

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

The guideline value is a crucial factor in the registration process for properties in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value helps in assessing the transaction value. If the sale price is lower than the guideline value, the stamp duty is calculated based on the guideline value, thereby protecting the interests of the state in property transactions.

Frequently asked questions

What is the current guideline value of Ganesh Avenue, Nethaji Colony 8th Cross Street?

The current guideline value of Ganesh Avenue, Nethaji Colony 8th 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 for Ganesh Avenue, Nethaji Colony 8th Cross Street was Rs 4,000 per sq.ft in 2012 and remained the same in 2023. It increased to Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

What is the land classification for this street?

The land classification for Ganesh Avenue, Nethaji Colony 8th Cross Street is Residential Class II Type - II.

Which office handles registrations for Ganesh Avenue, Nethaji Colony 8th Cross Street?

The Velacheri Sub Registrar Office handles registrations for Ganesh Avenue, Nethaji Colony 8th Cross Street. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

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

The stamp duty for properties in Ganesh Avenue, Nethaji Colony 8th Cross Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.