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Guideline Value

Corporate

Guideline Value for Gangai Nagar 1st Street

₹4400/sq.ft.

The guideline value for Gangai Nagar 1st Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. 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 N/A
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 Gangai Nagar 1st Street

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Gangai Nagar 1st Street guideline value

The current guideline value of Gangai Nagar 1st 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 is classified as Residential Class II Type - II.

How the guideline value of Gangai Nagar 1st Street has changed

The guideline value for Gangai Nagar 1st Street has seen revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 4,000 per sq.ft. The most recent revision in 2024 increased this value to Rs 4,400 per sq.ft, marking a change of 10% from the previous figure.

There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for Gangai Nagar 1st Street. Thus, the only revisions available are from 2012 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 is Rs 4,400 per sq.ft, which is equal to the 2024 figure for Gangai Nagar 1st Street.

Stamp duty and registration fee for property in Gangai Nagar 1st 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 be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangai Nagar 1st Street?

The Sub Registrar Office that covers Gangai Nagar 1st Street 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 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 when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

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. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

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

The current guideline value of Gangai Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value changed from Rs 4,000 per sq.ft in 2012 to Rs 4,400 per sq.ft in 2024, representing a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023.

What is the classification of Gangai Nagar 1st Street?

Gangai Nagar 1st Street is classified as Residential Class II Type - II. This classification affects the guideline value and the types of properties that can be developed in the area.

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 would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Gangai Nagar 1st Street located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles the registration of property transactions in the area.