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Guideline Value

Corporate

Guideline Value for Gangai Nagar 4th Main Road 5th Cross Street

₹4400/sq.ft.

The guideline value for Gangai Nagar 4th Main Road 5th 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 ₹219 /sq.ft.
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 4th Main Road 5th Cross Street

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Gangai Nagar 4th Main Road 5th Cross Street guideline value

The current guideline value of Gangai Nagar 4th Main Road 5th 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 falls under the Residential Class II Type - II land classification.

How the guideline value of Gangai Nagar 4th Main Road 5th Cross Street has changed

The guideline value for Gangai Nagar 4th Main Road 5th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2003, set at Rs 219 per sq.ft. This value saw a significant increase to Rs 1,500 per sq.ft in 2007, marking a change of +585%. In 2012, the guideline value rose to Rs 4,000 per sq.ft, reflecting an increase of +167% from the previous revision. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which is a +10% increase from 2012.

It is important to note that there are no recorded figures for the years 2002, 2017, and 2023 for this street. Overall, from 2003 to 2024, the guideline value has increased by +1909%, demonstrating substantial growth over the two decades.

Guideline values in Velachery

In Velachery, there are 2691 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 for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Gangai Nagar 4th Main Road 5th Cross Street.

Stamp duty and registration fee for property in Gangai Nagar 4th Main Road 5th 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 fees together to Rs 3,96,000. Please note that 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 precise calculations based on your property details.

Which Sub Registrar Office covers Gangai Nagar 4th Main Road 5th Cross Street?

The Sub Registrar Office that covers Gangai Nagar 4th Main Road 5th 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 when buying or selling property in Velachery, as it determines the minimum value at which a property can be registered. When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

This ensures that the government receives appropriate revenue from property transactions, while also providing a transparent framework for buyers and sellers. It is important for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gangai Nagar 4th Main Road 5th Cross Street?

The current guideline value of Gangai Nagar 4th Main Road 5th 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 changed significantly from Rs 219 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +1909% over the years.

Are there any years where the guideline value is not recorded for this street?

Yes, there are no recorded figures for the years 2002, 2017, and 2023 for Gangai Nagar 4th Main Road 5th Cross Street.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Gangai Nagar 4th Main Road 5th Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Velacheri Sub Registrar Office covers Gangai Nagar 4th Main Road 5th Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.