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Guideline Value

Corporate

Guideline Value for Gangai Nagar 3rd Cross Street

₹4400/sq.ft.

The guideline value for Gangai Nagar 3rd Cross 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 ₹1500 /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 3rd Cross Street

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Gangai Nagar 3rd Cross Street guideline value

The current guideline value of Gangai Nagar 3rd Cross 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 3rd Cross Street has changed

The guideline value for Gangai Nagar 3rd Cross Street has undergone several revisions since 2007. The 2007 revision set the value at Rs 1,500 per sq.ft. This figure saw a significant increase to Rs 4,000 per sq.ft in the 2012 revision, marking a change of 167%. The latest revision in 2024 has further increased the guideline value to Rs 4,400 per sq.ft, reflecting a 10% rise from the 2012 figure.

Additionally, the overall change from the 2007 revision to the 2024 revision amounts to an increase of 193%. It is important to note that the register has no figures for the years 2002, 2003, 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 value for these streets is Rs 4,400 per sq.ft, which is equal to the guideline value of Gangai Nagar 3rd Cross Street.

Stamp duty and registration fee for property in Gangai Nagar 3rd 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, 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 or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Gangai Nagar 3rd Cross Street?

The Sub Registrar Office that covers Gangai Nagar 3rd Cross 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 of property transactions 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 from stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can significantly impact their financial planning.

Frequently asked questions

What is the current guideline value of Gangai Nagar 3rd Cross Street?

The current guideline value of Gangai Nagar 3rd 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 has increased from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 193% over the years.

What is the land classification for Gangai Nagar 3rd Cross Street?

Gangai Nagar 3rd Cross Street is classified as Residential Class II Type - II.

What are the stamp duty rates applicable in Velachery?

The stamp duty rate in Velachery is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Gangai Nagar 3rd Cross Street?

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