Guideline Value

Corporate

Guideline Value for Nethaji Colony

₹4400/sq.ft.

The guideline value for Nethaji Colony 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 ₹189 /sq.ft.
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]

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Nethaji Colony guideline value

The current guideline value of Nethaji Colony is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of Nethaji Colony has changed

The guideline value for Nethaji Colony has seen significant changes over the years. In 2002, the guideline value was Rs 189 per sq.ft, which increased to Rs 212 per sq.ft in 2003, marking a 12% rise. Following this, the value surged to Rs 1,500 per sq.ft in 2007, reflecting a substantial increase of 608%. The value then rose to Rs 4,000 per sq.ft in 2012, a 167% increase from the previous revision. However, it decreased to Rs 2,680 per sq.ft in 2017, showing a decline of 33% before climbing back to Rs 4,000 per sq.ft in 2023, a 49% increase. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from 2023.

There are no figures available for the revisions between 2002 and 2003, and between 2012 and 2017. Overall, from 2002 to 2024, the guideline value has increased by 2228%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with 2024 guideline values 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 the same as the current value for Nethaji Colony.

Stamp duty and registration fee for property in Nethaji Colony

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. Together, these fees total 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 details.

Which Sub Registrar Office covers Nethaji Colony?

The Sub Registrar Office that covers Nethaji Colony 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

When buying or selling property in Velachery, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value set by the Registration Department, which is used as a benchmark for property transactions.

During the registration process, buyers and sellers must ensure that the property is valued according to the current guideline value. This ensures compliance with legal requirements and helps in the smooth transfer of property ownership.

Frequently asked questions

What is the current guideline value of Nethaji Colony?

The current guideline value of Nethaji Colony 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 from Rs 189 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 2228%.

What are the stamp duty and registration fees for property in Nethaji Colony?

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 Sub Registrar Office covers Nethaji Colony?

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

What is the land classification of Nethaji Colony?

Nethaji Colony is classified as Residential Class II Type - II, indicating its suitability for residential development.