Guideline Value for Nethaji Road
₹4400/sq.ft.
The guideline value for Nethaji Road 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
- Patta chitta: who holds the survey number and its extent, free
- Encumbrance certificate (EC): every registered sale and mortgage on it
- FMB sketch and the village map: its boundary and neighbours
- Velacheri sub-registrar office: address, phone and every village it registers
- Stamp duty and registration fee on this guideline value
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Nethaji Road guideline value
The current guideline value of Nethaji Road in Velachery village, under the Velacheri SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.
How the guideline value of Nethaji Road has changed
The guideline value of Nethaji Road has seen several revisions over the years. In 2012, the value was Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in 2017. However, the value significantly increased by 49% to Rs 4,000 per sq.ft in 2023, and then it rose by 10% to the current rate of Rs 4,400 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.
Overall, from 2012 to 2024, the guideline value has increased by 10%. The changes between the revisions indicate fluctuations in property valuation, reflecting the dynamics of the real estate market in the area.
Guideline values in Velachery
In Velachery, there are 2,691 streets under the Velacheri SRO, with the 2024 guideline values 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 Road.
- Nethaji Road / Ganesh Nagar: Rs 4,400 per sq.ft (2024)
- Nethaji Road/Street / Ganesh Nagar Pillaiyar Koil St: Rs 4,400 per sq.ft (2024)
- Nethaji Road/Street, (Pillaiyar Koils Street Extn)/(Ganesh Nagar): Rs 4,400 per sq.ft (2024)
- Nethaji Street: Rs 4,400 per sq.ft (2024)
- Nethaji Colony Ragavendra Street: Rs 4,400 per sq.ft (2024)
- Nethaji Colony Church Street: Rs 4,400 per sq.ft (2024)
Stamp duty and registration fee for property in Nethaji Road
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 cost Rs 3,96,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.
Which Sub Registrar Office covers Nethaji Road?
Nethaji Road falls under the jurisdiction of 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 when registering property transactions in Velachery. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this valuation.
When buying or selling property, the guideline value serves as a benchmark for both parties. It helps in establishing a fair price for the transaction, ensuring transparency and compliance with legal requirements during the registration process.
Frequently asked questions
What is the current guideline value of Nethaji Road?
The current guideline value of Nethaji Road 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 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.
What is the land classification of Nethaji Road?
Nethaji Road is classified as Residential Class II Type - II, which indicates its suitability for residential development.
What are the stamp duty rates for properties in Nethaji Road?
The stamp duty for properties in Nethaji Road is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.
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.
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