Guideline Value

Corporate

Guideline Value for Nethaji Colony 3rd Cross Street Extn

₹4400/sq.ft.

The guideline value for Nethaji Colony 3rd Cross Street Extn 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 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 Nethaji Colony 3rd Cross Street Extn

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Nethaji Colony 3rd Cross Street Extn guideline value

The current guideline value of Nethaji Colony 3rd Cross Street Extn 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 3rd Cross Street Extn has changed

In the 2012 revision, the guideline value was set at Rs 4,000 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 4,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 4,400 per sq.ft, marking a 10% rise from the previous year. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street. Thus, the only available revisions are from 2012, 2023, and 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 3rd Cross Street Extn.

Stamp duty and registration fee for property in Nethaji Colony 3rd Cross Street Extn

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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nethaji Colony 3rd Cross Street Extn?

The Sub Registrar Office that covers Nethaji Colony 3rd Cross Street Extn 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 in the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling a property, the guideline value helps both parties understand the value of the property being transacted. It is essential to consider this value, as the stamp duty and registration fees are calculated based on it or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Nethaji Colony 3rd Cross Street Extn?

The current guideline value of Nethaji Colony 3rd Cross Street Extn 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 4,000 per sq.ft in 2023, and then increased to Rs 4,400 per sq.ft in 2024. Overall, there has been a 10% increase from 2012 to 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Nethaji Colony 3rd Cross Street Extn?

The Velacheri Sub Registrar Office handles property registrations for Nethaji Colony 3rd Cross Street Extn. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Nethaji Colony 3rd Cross Street Extn?

Nethaji Colony 3rd Cross Street Extn is classified as Residential Class II Type - II, which indicates its suitability for residential development.