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Guideline Value

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Guideline Value for Ganesh Avenue, Nethaji Colony 9th Cross Street

₹4400/sq.ft.

The guideline value for Ganesh Avenue, Nethaji Colony 9th 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 9th Cross Street

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Ganesh Avenue, Nethaji Colony 9th Cross Street guideline value

The current guideline value of Ganesh Avenue, Nethaji Colony 9th 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 9th Cross Street has changed

In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 2,680 per sq.ft, marking a decline of 33%. Following this, the value increased significantly to Rs 4,000 per sq.ft in 2012, and then rose again to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024, which is a 10% increase from 2023.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back up to Rs 4,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has seen a 10% increase, with the current value aligning with the median guideline value for Velachery streets.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with a 2024 guideline value range 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 9th Cross Street.

Stamp duty and registration fee for property in Ganesh Avenue, Nethaji Colony 9th 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 guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh Avenue, Nethaji Colony 9th Cross Street?

The Ganesh Avenue, Nethaji Colony 9th 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 a crucial factor in the registration process of property transactions in Velachery. It serves as a baseline for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, buyers must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value for Ganesh Avenue, Nethaji Colony 9th Cross Street?

The current guideline value for Ganesh Avenue, Nethaji Colony 9th Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has fluctuated, starting at Rs 4,000 per sq.ft in 2012, dropping to Rs 2,680 per sq.ft in 2017, and rising again to Rs 4,400 per sq.ft in 2024.

What is the land classification for this street?

The land classification for Ganesh Avenue, Nethaji Colony 9th Cross Street is Residential Class II Type - II.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where can I find the Sub Registrar Office for this street?

The Velacheri Sub Registrar Office, which covers Ganesh Avenue, Nethaji Colony 9th Cross Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.