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Guideline Value

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Guideline Value for Jayanthi Street /VGP Dr. Seethapathy Nagar

₹4400/sq.ft.

The guideline value for Jayanthi Street /vgp Dr. Seethapathy Nagar in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. 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 ₹4000 /sq.ft.
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 N/A
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 Jayanthi Street /vgp Dr. Seethapathy Nagar

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Jayanthi Street /VGP Dr. Seethapathy Nagar guideline value

The current guideline value of Jayanthi Street /VGP Dr. Seethapathy Nagar 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 Jayanthi Street /VGP Dr. Seethapathy Nagar has changed

The guideline value for Jayanthi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 4,000 per sq.ft, and the latest revision in 2024 has set it at Rs 4,400 per sq.ft. The changes between these revisions are notable; from 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase.

It is important to note that the register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 current guideline value for Jayanthi Street.

Stamp duty and registration fee for property in Jayanthi Street /VGP Dr. Seethapathy Nagar

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 higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jayanthi Street /VGP Dr. Seethapathy Nagar?

The Sub Registrar Office that covers Jayanthi Street /VGP Dr. Seethapathy Nagar 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 is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers should be aware that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the actual sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value for Jayanthi Street?

The current guideline value for Jayanthi Street /VGP Dr. Seethapathy Nagar 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 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the stamp duty rate for properties in Jayanthi Street?

The stamp duty rate for properties in Jayanthi Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Jayanthi Street?

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

What is the land classification for Jayanthi Street?

The land classification for Jayanthi Street /VGP Dr. Seethapathy Nagar is Residential Class II Type - II.