Guideline Value

Corporate

Guideline Value for Gangai Nagar 3rd Main Road

₹4400/sq.ft.

The guideline value for Gangai Nagar 3rd 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 ₹177 /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 3rd Main Road

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Gangai Nagar 3rd Main Road guideline value

The current guideline value of Gangai Nagar 3rd Main Road 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 Gangai Nagar 3rd Main Road has changed

The guideline value for Gangai Nagar 3rd Main Road has seen significant changes over the years. Starting from Rs 177 per sq.ft in 2002, it increased to Rs 219 per sq.ft in 2003, marking a 24% rise. The value then surged to Rs 1,500 per sq.ft in 2007, representing a substantial increase of 585%. Following this, the 2012 revision set the value at Rs 4,000 per sq.ft, which was a 167% increase from the previous figure. The most recent revision in 2024 raised the guideline value to Rs 4,400 per sq.ft, reflecting a 10% increase from 2012.

It is important to note that there are no figures available for the revisions in 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by an impressive 2386%.

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 the same as the guideline value for Gangai Nagar 3rd Main Road.

Stamp duty and registration fee for property in Gangai Nagar 3rd 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, making the total cost 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.

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

Which Sub Registrar Office covers Gangai Nagar 3rd Main Road?

The Sub Registrar Office that covers Gangai Nagar 3rd 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 plays a crucial role in the registration process when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The guideline value is set by the government and is meant to reflect the market conditions in the area.

When a property is registered, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Gangai Nagar 3rd Main Road?

The current guideline value of Gangai Nagar 3rd Main Road 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 changed significantly from Rs 177 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 2386% over this period.

What is the land classification for Gangai Nagar 3rd Main Road?

The land classification for Gangai Nagar 3rd Main Road is Residential Class II Type - II.

Where is the Velacheri Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For instance, a 1,000 sq.ft plot at the current guideline value incurs a total cost of Rs 3,96,000 in fees.