Guideline Value

Corporate

Guideline Value for Nethaji Colony 3rd Cross Street

₹4400/sq.ft.

The guideline value for Nethaji Colony 3rd Cross Street 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 ₹212 /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 3rd Cross Street

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Nethaji Colony 3rd Cross Street guideline value

The current guideline value of Nethaji Colony 3rd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Nethaji Colony 3rd Cross Street has changed

The guideline value for Nethaji Colony 3rd Cross Street has undergone several revisions over the years. In 2003, the guideline value was Rs 212 per sq.ft. This figure saw a significant increase in 2007, rising to Rs 1,500 per sq.ft, marking a change of +608%. By 2012, the value remained at Rs 4,000 per sq.ft, and this figure did not change until 2023. The 2023 revision recorded the value at Rs 4,000 per sq.ft, with no change from the previous revision.

The latest revision in 2024 saw the guideline value increase to Rs 4,400 per sq.ft, reflecting a change of +10% from the 2023 figure. Overall, from 2003 to 2024, the guideline value has increased by +1975%.

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 the same as the 2024 figure for Nethaji Colony 3rd Cross Street.

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

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. Together, these fees total 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 detailed calculations.

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

The Sub Registrar Office that covers Nethaji Colony 3rd Cross 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 critical factor in the registration process of property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is used to calculate the applicable fees, which are essential for the formal transfer of ownership. It is important for both parties to agree on the sale price, as the duty is charged on the higher of the guideline value or the sale price.

Frequently asked questions

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

The current guideline value of Nethaji Colony 3rd Cross Street 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 212 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +1975% over this period.

What are the stamp duty and registration fees for property in Nethaji Colony 3rd Cross Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,96,000.

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

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

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of this value to ensure compliance with legal requirements.