Guideline Value

Corporate

Guideline Value for Nethaji Colony 1st Main Road

₹4400/sq.ft.

The guideline value for Nethaji Colony 1st Main Road 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 N/A
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 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 Nethaji Colony 1st Main Road

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Nethaji Colony 1st Main Road guideline value

The current guideline value of Nethaji Colony 1st Main Road 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 Nethaji Colony 1st Main Road has changed

The guideline value for Nethaji Colony 1st Main Road has seen significant changes over the years. In 2003, the guideline value was Rs 225 per sq.ft, which rose to Rs 1,500 per sq.ft in 2007, marking an increase of 567%. The value remained at Rs 4,000 per sq.ft from 2012 until the 2023 revision, which also recorded Rs 4,000 per sq.ft. The most recent revision in 2024 increased the value to Rs 4,400 per sq.ft, reflecting a 10% rise from the previous year.

Between the 2007 and 2012 revisions, the value increased by 167%. Overall, from 2003 to 2024, the guideline value has surged by 1856%. It is important to note that there are no recorded figures for the years 2002 and 2017 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 the median value being Rs 4,400 per sq.ft. Nethaji Colony 1st Main Road's 2024 guideline value aligns with this median.

Stamp duty and registration fee for property in Nethaji Colony 1st 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 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, making the total cost for these fees Rs 3,96,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nethaji Colony 1st Main Road?

The Nethaji Colony 1st Main Road is covered by 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 details.

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

The guideline value is a crucial factor in property transactions in Velachery. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Nethaji Colony 1st Main Road?

The current guideline value of Nethaji Colony 1st 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 225 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1856% over this period.

What is the stamp duty rate for property in Nethaji Colony 1st Main Road?

The stamp duty rate for property in Nethaji Colony 1st Main Road is 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Velacheri Sub Registrar Office covers Nethaji Colony 1st Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the other streets with the same guideline value in Velachery?

Other streets in Velachery with the same guideline value of Rs 4,400 per sq.ft include Nethaji Colony 1st Cross Street Extn, Nethaji Colony 2nd Cross Street, Nethaji Colony 1st Cross Street, Nethaji Colony 2nd Cross Street Extn, Nethaji Colony 10th Cross Street Extn, and Nethaji Colony 2nd Main Road.