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Guideline Value

Corporate

Guideline Value for Nethaji Colony 7th Cross Street

₹4400/sq.ft.

The guideline value for Nethaji Colony 7th 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 ₹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 7th Cross Street

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Nethaji Colony 7th Cross Street guideline value

The current guideline value of Nethaji Colony 7th Cross Street 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. The land classification for this area is Residential Class II Type - II.

How the guideline value of Nethaji Colony 7th Cross Street has changed

The guideline value for Nethaji Colony 7th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 212 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2007, marking a change of +608%. In 2012, the value rose to Rs 4,000 per sq.ft, which was a substantial increase of +167%. However, from 2012 to 2017, there was a decrease of -33%, bringing the value down to Rs 2,680 per sq.ft. The next revision in 2023 saw a rise to Rs 4,000 per sq.ft, followed by the latest revision in 2024, which set the guideline value at Rs 4,400 per sq.ft, reflecting an increase of +10%.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by +1975%. It is important to note that the register has no figure for the year 2002 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, which is equal to the current figure for Nethaji Colony 7th Cross Street.

Stamp duty and registration fee for property in Nethaji Colony 7th 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, bringing the total fees together 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nethaji Colony 7th Cross Street?

The Sub Registrar Office that covers Nethaji Colony 7th 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during property transactions.

When a property is registered, the guideline value is used to calculate the applicable fees. This value is essential for both buyers and sellers to understand, as it directly impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Nethaji Colony 7th Cross Street?

The current guideline value of Nethaji Colony 7th 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 seen several revisions, starting from Rs 212 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, which reflects an overall increase of +1975%.

What is the land classification for Nethaji Colony 7th Cross Street?

Nethaji Colony 7th Cross Street is classified as Residential Class II Type - II, indicating its designation for residential purposes.

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.

Which office handles the registration for Nethaji Colony 7th Cross Street?

The Velacheri Sub Registrar Office handles the registration for Nethaji Colony 7th Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.