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Guideline Value

Corporate

Guideline Value for Nethaji Colony 9th Cross Street

₹4400/sq.ft.

The guideline value for Nethaji Colony 9th 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 N/A
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 9th Cross Street

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Nethaji Colony 9th Cross Street guideline value

The current guideline value of Nethaji Colony 9th 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 9th Cross Street has changed

Starting from the earliest revision, the guideline value for Nethaji Colony 9th Cross Street was Rs 212 per sq.ft in 2003. This figure saw a significant increase to Rs 4,000 per sq.ft in 2012, marking an increase of 1787%. However, the value decreased to Rs 2,680 per sq.ft in 2017, representing a decline of 33%. The value then rose sharply to Rs 4,000 per sq.ft in 2023, followed by a further increase to the current rate of Rs 4,400 per sq.ft in 2024, which is a 10% rise.

From 2017 to 2023, the increase was 49%, and overall, from 2003 to 2024, the guideline value has increased by 1975%. It is important to note that the register has no figures for the years 2002 and 2007 for this street.

Guideline values in Velachery

In Velachery, there are 2691 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 value of Nethaji Colony 9th Cross Street.

Stamp duty and registration fee for property in Nethaji Colony 9th 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, 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nethaji Colony 9th Cross Street?

The Sub Registrar Office that covers Nethaji Colony 9th 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 crucial factor in the registration process when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Nethaji Colony 9th Cross Street?

The current guideline value of Nethaji Colony 9th 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 increased from Rs 212 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 1975% over this period.

What is the land classification for Nethaji Colony 9th Cross Street?

The land classification for Nethaji Colony 9th Cross Street is Residential Class II Type - II.

What are the stamp duty and registration fees for property 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.

Where is the Sub Registrar Office located for this street?

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