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Guideline Value

Corporate

Guideline Value for Gangai Nagar 5th Main Road 2nd Cross Street

₹4400/sq.ft.

The guideline value for Gangai Nagar 5th Main Road 2nd 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 ₹2680 /sq.ft.
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 5th Main Road 2nd Cross Street

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Gangai Nagar 5th Main Road 2nd Cross Street guideline value

The current guideline value of Gangai Nagar 5th Main Road 2nd 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 5th Main Road 2nd Cross Street has changed

The guideline value for Gangai Nagar 5th Main Road 2nd Cross Street has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 1,500 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in the 2012 revision, marking a rise of 167%. However, in the 2017 revision, the value decreased to Rs 2,680 per sq.ft, reflecting a drop of 33%. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which represents a substantial increase of 64% from the previous figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%.

Guideline values in Velachery

In Velachery, there are a total of 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 current guideline value for Gangai Nagar 5th Main Road 2nd Cross Street. Below are other streets in Velachery with their respective guideline values:

Stamp duty and registration fee for property in Gangai Nagar 5th Main Road 2nd Cross Street

For a 1,000 sq.ft plot at the current rate, the 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, totaling 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 information.

Which Sub Registrar Office covers Gangai Nagar 5th Main Road 2nd Cross Street?

The Sub Registrar Office that covers Gangai Nagar 5th Main Road 2nd 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 further assistance.

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

The guideline value plays a crucial role in the registration process for property transactions in Velachery. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. These fees are calculated based on the guideline value or the sale price, whichever is higher.

When you buy or sell property in Velachery, it is essential to be aware of the current guideline values, as they can significantly impact the overall cost of the transaction. Ensuring that you have the correct information can help facilitate a smoother registration process.

Frequently asked questions

What is the current guideline value of Gangai Nagar 5th Main Road 2nd Cross Street?

The current guideline value of Gangai Nagar 5th Main Road 2nd 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 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 factors influence the guideline value in Velachery?

The guideline value is determined by the Registration Department and reflects the land classification and market conditions in the area. It is subject to periodic revisions based on these factors.

Where can I find the Sub Registrar Office for Gangai Nagar 5th Main Road 2nd Cross Street?

The Sub Registrar Office for this street 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 property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.