Guideline Value

Corporate

Guideline Value for Nethaji Colony 4th Cross Street

₹4400/sq.ft.

The guideline value for Nethaji Colony 4th 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 4th Cross Street

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Nethaji Colony 4th Cross Street guideline value

The current guideline value of Nethaji Colony 4th 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, and is classified as Residential Class II Type - II.

How the guideline value of Nethaji Colony 4th Cross Street has changed

The guideline value for Nethaji Colony 4th Cross Street has seen several revisions over the years. In 2003, the guideline value was Rs 212 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2007, marking a change of +608%. The value remained at Rs 4,000 per sq.ft from 2007 until the 2012 revision, showing a substantial increase of +167% to reach Rs 4,000 per sq.ft. There was no change in the value from 2012 to 2023, as it continued to be Rs 4,000 per sq.ft.

In 2023, the guideline value was revised to Rs 4,000 per sq.ft, and then increased to Rs 4,400 per sq.ft in the 2024 revision, reflecting a change of +10%. 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 with 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 matches the 2024 figure for Nethaji Colony 4th Cross Street.

Stamp duty and registration fee for property in Nethaji Colony 4th 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 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, resulting in a total of 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nethaji Colony 4th Cross Street?

The Nethaji Colony 4th Cross Street falls under 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 plays a crucial role in the registration process when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees, which are necessary for legal documentation and transfer of ownership.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Nethaji Colony 4th Cross Street?

The current guideline value of Nethaji Colony 4th 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 from Rs 212 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, showing a significant increase of +1975% over this period.

What is the land classification of Nethaji Colony 4th Cross Street?

Nethaji Colony 4th Cross Street is classified as Residential Class II Type - II.

Where can I find the Velacheri Sub Registrar Office?

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

How is stamp duty calculated for properties in Nethaji Colony 4th Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.