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Guideline Value

Corporate

Guideline Value for Nehru Nagar Nedunchezhian Street

₹3850/sq.ft.

The guideline value for Nehru Nagar Nedunchezhian 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 N/A
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 Nehru Nagar Nedunchezhian Street

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Nehru Nagar Nedunchezhian Street guideline value

The current guideline value of Nehru Nagar Nedunchezhian Street is Rs 3,850 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 - III.

How the guideline value of Nehru Nagar Nedunchezhian Street has changed

The guideline value for Nehru Nagar Nedunchezhian Street has seen significant changes over the years. The 2017 revision set the value at Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision, marking a substantial rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, which means that Nehru Nagar Nedunchezhian Street's 2024 figure is below that median.

Stamp duty and registration fee for property in Nehru Nagar Nedunchezhian Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for stamp duty and registration to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Nagar Nedunchezhian Street?

The Sub Registrar Office that covers Nehru Nagar Nedunchezhian 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 the property can be registered. This value is set by the government and is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues. The registration office will use the guideline value to assess the applicable fees, ensuring that all transactions are in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nehru Nagar Nedunchezhian Street?

The current guideline value of Nehru Nagar Nedunchezhian Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024, which is an overall increase of 64%.

What is the land classification for Nehru Nagar Nedunchezhian Street?

The land classification for Nehru Nagar Nedunchezhian Street is Residential Class II Type - III.

What is the stamp duty rate applicable in Velachery?

The stamp duty rate applicable in Velachery is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Nehru Nagar Nedunchezhian Street?

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