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Guideline Value

Corporate

Guideline Value for Indira Gandhi Nagar 5th Street

₹3850/sq.ft.

The guideline value for Indira Gandhi Nagar 5th Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /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 Indira Gandhi Nagar 5th Street

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Indira Gandhi Nagar 5th Street guideline value

The current guideline value of Indira Gandhi Nagar 5th Street is Rs 3,850 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 - III.

How the guideline value of Indira Gandhi Nagar 5th Street has changed

Over the years, the guideline value of Indira Gandhi Nagar 5th Street has seen several revisions. The earliest recorded figure is from 2007, when the value was Rs 1,500 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a 133% rise. However, there was a decrease to Rs 2,345 per sq.ft in 2017, which is a drop of 33%. The value then surged to Rs 3,500 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

The changes between these revisions illustrate a fluctuating trend. From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 157%. It is important to note that the register has no figures for the years 2002 and 2003 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, with a median value of Rs 4,400 per sq.ft. The guideline value of Indira Gandhi Nagar 5th Street is below this median.

Stamp duty and registration fee for property in Indira Gandhi Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Gandhi Nagar 5th Street?

The Sub Registrar Office that covers Indira Gandhi Nagar 5th 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 plays a crucial role in property transactions in Velachery. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees payable at the time of registration. This ensures that the transaction is officially recorded and that the appropriate taxes are collected by the government.

Additionally, the guideline value helps in establishing a standard for property transactions in the area. Buyers and sellers can refer to these values to understand the worth of properties in Velachery, ensuring transparency and fairness in the property market.

Frequently asked questions

What is the current guideline value of Indira Gandhi Nagar 5th Street?

The current guideline value of Indira Gandhi Nagar 5th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the most recent revision in 2024 increasing the value by 10% from Rs 3,500 per sq.ft in 2023. Overall, from 2007 to 2024, the guideline value has increased by 157%.

What is the land classification for Indira Gandhi Nagar 5th Street?

Indira Gandhi Nagar 5th Street is classified as Residential Class II Type - III, indicating its suitability for residential development.

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

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

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.