Guideline Value

Corporate

Guideline Value for Nethaji Colony 6th Cross Street

₹4400/sq.ft.

The guideline value for Nethaji Colony 6th 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 ₹2680 /sq.ft.
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 6th Cross Street

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Nethaji Colony 6th Cross Street guideline value

The current guideline value of Nethaji Colony 6th 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 6th Cross Street has changed

The guideline value for Nethaji Colony 6th Cross Street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, it dropped to Rs 2,680 per sq.ft in the 2017 revision, before rising to Rs 4,000 per sq.ft again in 2023. The latest revision in 2024 set the value at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the changes were notable: from 2007 to 2012, there was a substantial increase of 167%, followed by a decrease of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023, and the latest increase from 2023 to 2024 was 10%. Overall, from 2007 to 2024, the guideline value has increased by 193%. The register has no figures for the years 2002 and 2003 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 value is Rs 4,400 per sq.ft, which is equal to the guideline value of Nethaji Colony 6th Cross Street.

Stamp duty and registration fee for property in Nethaji Colony 6th 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, making the total fees 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 the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Nethaji Colony 6th Cross Street?

The Sub Registrar Office that covers Nethaji Colony 6th 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 further assistance.

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

The guideline value is a crucial factor in property transactions in Velachery. It serves as a benchmark for determining the minimum price at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the registration fee and stamp duty are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Nethaji Colony 6th Cross Street?

The current guideline value of Nethaji Colony 6th 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 over the years, with the most recent revision in 2024 increasing it by 10% from Rs 4,000 per sq.ft in 2023. Overall, the value has increased by 193% from Rs 1,500 per sq.ft in 2007 to the current rate.

What are the stamp duty and registration fees for property in Nethaji Colony 6th Cross Street?

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. This is calculated based on the guideline value.

Which Sub Registrar Office covers Nethaji Colony 6th Cross Street?

The Velacheri Sub Registrar Office covers Nethaji Colony 6th Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Nethaji Colony 6th Cross Street?

Nethaji Colony 6th Cross Street is classified as Residential Class II Type - II, indicating its suitability for residential development and transactions.