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Guideline Value

Corporate

Guideline Value for Gangai Nagar 1st Main Road (Facing 100 Ft. Bye-Pass Road)

₹13200/sq.ft.

The guideline value for Gangai Nagar 1st Main Road (facing 100 Ft. Bye-pass Road) in Velachery village (Velacheri SRO, Chennai zone) is Rs 13200 per sq.ft, effective 1 July 2024. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹13200 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹12000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2000 /sq.ft.
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 Gangai Nagar 1st Main Road (facing 100 Ft. Bye-pass Road)

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Gangai Nagar 1st Main Road (Facing 100 Ft. Bye-Pass Road) guideline value

The current guideline value of Gangai Nagar 1st Main Road (Facing 100 Ft. Bye-Pass Road) is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Gangai Nagar 1st Main Road (Facing 100 Ft. Bye-Pass Road) has changed

The guideline value for Gangai Nagar 1st Main Road has seen significant changes over the years. In the 2007 revision, the value was Rs 2,000 per sq.ft, which increased dramatically to Rs 12,000 per sq.ft in the 2012 revision, marking a 500% increase. The register has no figure for the years 2002, 2003, 2017, and 2023.

From 2012 to the current 2024 revision, the guideline value rose by 10%, reaching Rs 13,200 per sq.ft. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 560%.

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, with a median value of Rs 4,400 per sq.ft. Gangai Nagar 1st Main Road (Facing 100 Ft. Bye-Pass Road) has a guideline value above this median.

Stamp duty and registration fee for property in Gangai Nagar 1st Main Road (Facing 100 Ft. Bye-Pass Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, while the registration fee at 2% would be Rs 2,64,000, bringing the total cost for these fees to Rs 11,88,000. 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 Gangai Nagar 1st Main Road (Facing 100 Ft. Bye-Pass Road)?

The Sub Registrar Office covering Gangai Nagar 1st Main Road is 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 when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value of the property, ensuring that the registration fees and stamp duties are calculated accurately based on this value.

When buying or selling property, the guideline value helps in assessing the fair pricing of the property in relation to the market. It is essential for both buyers and sellers to be aware of these values to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Gangai Nagar 1st Main Road?

The current guideline value of Gangai Nagar 1st Main Road (Facing 100 Ft. Bye-Pass Road) is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,000 per sq.ft in 2007 to Rs 12,000 per sq.ft in 2012, and now to Rs 13,200 per sq.ft in 2024. The overall increase from 2007 to 2024 is 560%.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 1,32,00,000, the stamp duty at 7% amounts to Rs 9,24,000, and the registration fee at 2% is Rs 2,64,000, totaling Rs 11,88,000 for these fees.

Which Sub Registrar Office should I visit for transactions in Gangai Nagar 1st Main Road?

The Velacheri Sub Registrar Office is responsible for transactions in Gangai Nagar 1st Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Gangai Nagar 1st Main Road?

Gangai Nagar 1st Main Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.