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Guideline Value

Corporate

Guideline Value for Nethaji Road / Ganesh Nagar

₹4400/sq.ft.

The guideline value for Nethaji Road / Ganesh Nagar 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 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 Road / Ganesh Nagar

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Nethaji Road / Ganesh Nagar guideline value

The current guideline value of Nethaji Road / Ganesh Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Velachery village and falls under the Velacheri SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Nethaji Road / Ganesh Nagar has changed

The guideline value for Nethaji Road / Ganesh Nagar has seen several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 4,000 per sq.ft. This value remained the same in the subsequent revision in 2017, which then decreased to Rs 2,680 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 4,000 per sq.ft. The latest revision in 2024 saw a further increase of 10%, resulting in the current guideline value of Rs 4,400 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 for these streets is Rs 4,400 per sq.ft, which is equal to the guideline value of Nethaji Road / Ganesh Nagar.

Stamp duty and registration fee for property in Nethaji Road / Ganesh Nagar

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 to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nethaji Road / Ganesh Nagar?

The Sub Registrar Office that covers Nethaji Road / Ganesh Nagar 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 property transactions in Velachery. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid during the registration process. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Additionally, the guideline value serves as a benchmark for property transactions within the area. It helps in determining the minimum price at which a property can be registered, thus providing a standard for buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of Nethaji Road / Ganesh Nagar?

The current guideline value of Nethaji Road / Ganesh Nagar 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 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, which is a 10% increase. From 2017 to 2023, there was a 49% increase from Rs 2,680 per sq.ft to Rs 4,000 per sq.ft.

What is the land classification for Nethaji Road / Ganesh Nagar?

The land classification for Nethaji Road / Ganesh Nagar is Residential Class II Type - II.

Where is the Velacheri Sub Registrar Office located?

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 Road / Ganesh Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 3,96,000.