Guideline Value

Corporate

Guideline Value for Gangai Nagar 5th Main Road

₹4400/sq.ft.

The guideline value for Gangai Nagar 5th 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 ₹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 ₹225 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹200 /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 5th Main Road

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Gangai Nagar 5th Main Road guideline value

The current guideline value of Gangai Nagar 5th 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 is classified as Residential Class II Type - II.

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

The guideline value for Gangai Nagar 5th Main Road has seen several revisions over the years. Starting from Rs 200 in 2002, it increased to Rs 225 in 2003, then surged to Rs 1,500 in 2007, marking a significant increase of 567%. In 2012, the value rose to Rs 4,000, reflecting a 167% increase from the previous revision. However, in 2017, the value dropped to Rs 2,680, a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 4,400, which is a substantial increase of 64% from 2017.

It is important to note that there is no figure for the year 2023 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by an impressive 2100%.

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 is Rs 4,400 per sq.ft, which is equal to the current guideline value of Gangai Nagar 5th Main Road.

Stamp duty and registration fee for property in Gangai Nagar 5th 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 would be Rs 44,00,000. The stamp duty at 7% would amount to 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 guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Gangai Nagar 5th 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 is a crucial factor when buying or selling property in Velachery. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue based on the property's assessed value.

Frequently asked questions

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

The current guideline value of Gangai Nagar 5th 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 200 in 2002 to Rs 4,400 in 2024, reflecting an overall increase of 2100% over the years.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is typically 7%. This is applied to the guideline value or the sale price, whichever is higher.

Where can I find the Velacheri Sub Registrar Office?

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

What is the land classification of Gangai Nagar 5th Main Road?

Gangai Nagar 5th Main Road is classified as Residential Class II Type - II, indicating its suitability for residential development.