Guideline Value

Corporate

Guideline Value for Nethaji Colony 3rd Main Road

₹4400/sq.ft.

The guideline value for Nethaji Colony 3rd 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 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 Main Road

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Nethaji Colony 3rd Main Road guideline value

The current guideline value of Nethaji Colony 3rd 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, classified as Residential Class II Type - II.

How the guideline value of Nethaji Colony 3rd Main Road has changed

The guideline value for Nethaji Colony 3rd Main Road has seen several revisions over the years. In 2007, the value was set at Rs 1,500 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, reflecting a change of +167%. This figure remained unchanged until the 2023 revision, which also recorded Rs 4,000 per sq.ft. The most recent revision in 2024 has increased the guideline value to Rs 4,400 per sq.ft, marking a +10% change from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by +193%. It is important to note that there are no figures available for the years 2002, 2003, 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. The median guideline value is Rs 4,400 per sq.ft, placing Nethaji Colony 3rd Main Road at the median level.

Stamp duty and registration fee for property in Nethaji Colony 3rd 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, bringing the total fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Nethaji Colony 3rd Main Road?

Nethaji Colony 3rd Main Road is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering 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 appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. It is essential for buyers to be aware of the guideline value to ensure that they are not overpaying for the property, while sellers must consider it to set a realistic price for their property.

Frequently asked questions

What is the current guideline value of Nethaji Colony 3rd Main Road?

The current guideline value of Nethaji Colony 3rd 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 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting a total increase of +193% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000, leading to a stamp duty of Rs 3,08,000 and a registration fee of Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Nethaji Colony 3rd Main Road?

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

What is the significance of the guideline value when buying or selling property?

The guideline value serves as a benchmark for property registration, ensuring that the government receives the appropriate stamp duty and registration fees. It helps both buyers and sellers understand the property value in legal terms.