Guideline Value

Corporate

Guideline Value for Nethaji Colony 2nd Main Road

₹4400/sq.ft.

The guideline value for Nethaji Colony 2nd 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 ₹377 /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 2nd Main Road

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Nethaji Colony 2nd Main Road guideline value

The current guideline value of Nethaji Colony 2nd 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 Nethaji Colony 2nd Main Road has changed

The guideline value for Nethaji Colony 2nd Main Road has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 377 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2007, marking a change of +298%. By 2012, the value remained at Rs 4,000 per sq.ft, showing no change from the previous revision. In 2023, the guideline value was again Rs 4,000 per sq.ft, with no change noted from 2012. The latest revision in 2024 raised the value to Rs 4,400 per sq.ft, reflecting an increase of +10% from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2017 for this street. Overall, the guideline value has increased by +1067% from 2003 to 2024.

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 guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Nethaji Colony 2nd Main Road.

Stamp duty and registration fee for property in Nethaji Colony 2nd 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, totaling 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.

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

Which Sub Registrar Office covers Nethaji Colony 2nd Main Road?

The Nethaji Colony 2nd 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 plays a crucial role in the registration process of 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 revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable duties and fees. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which could affect the total cost involved in the transaction.

Frequently asked questions

What is the current guideline value of Nethaji Colony 2nd Main Road?

The current guideline value of Nethaji Colony 2nd 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 from Rs 377 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, marking an overall increase of +1067% over the years.

What is the stamp duty rate for property in Nethaji Colony 2nd Main Road?

The stamp duty rate for property in Nethaji Colony 2nd Main Road is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Nethaji Colony 2nd Main Road?

The Sub Registrar Office covering Nethaji Colony 2nd Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value determined for properties in Velachery?

The guideline value for properties in Velachery is determined by the Registration Department's guideline value register, which is revised periodically to reflect market conditions and property classifications.