Guideline Value

Corporate

Guideline Value for Gangai Nagar 2nd Main Road

₹4400/sq.ft.

The guideline value for Gangai Nagar 2nd Main Road 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 ₹1500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹219 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹195 /sq.ft.
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 2nd Main Road

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Gangai Nagar 2nd Main Road guideline value

The current guideline value of Gangai Nagar 2nd Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and falls under the Residential Class II Type - II land classification.

How the guideline value of Gangai Nagar 2nd Main Road has changed

The guideline value for Gangai Nagar 2nd Main Road has seen significant changes over the years. In 2002, the guideline value was Rs 195 per sq.ft, which increased to Rs 219 per sq.ft in 2003, marking a 12% rise. By 2007, the value surged to Rs 1,500 per sq.ft, reflecting a remarkable increase of 585%. The 2012 revision set the value at Rs 4,000 per sq.ft, a 167% jump from 2007. The most recent revision in 2024 has brought the guideline value to Rs 4,400 per sq.ft, representing a 10% increase from 2012. The register has no figures for the years 2017 and 2023 for this street.

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 the same as that of Gangai Nagar 2nd Main Road.

Stamp duty and registration fee for property in Gangai Nagar 2nd Main Road

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, 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 higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangai Nagar 2nd Main Road?

The Sub Registrar Office that covers Gangai Nagar 2nd 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Velachery. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and in compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Gangai Nagar 2nd Main Road?

The current guideline value of Gangai Nagar 2nd Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 195 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 2156%.

What is the land classification for Gangai Nagar 2nd Main Road?

Gangai Nagar 2nd Main Road falls under the Residential Class II Type - II land classification.

Where can I find the registration office for Gangai Nagar 2nd Main Road?

The registration office for Gangai Nagar 2nd Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 4,400 per sq.ft, the total guideline value is Rs 44,00,000, leading to a stamp duty of Rs 3,08,000.