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Guideline Value

Corporate

Guideline Value for Rajalakshmi Nagar 3rd Main Road

₹4400/sq.ft.

The guideline value for Rajalakshmi Nagar 3rd Main 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 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹1217 /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 Rajalakshmi Nagar 3rd Main Road

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Rajalakshmi Nagar 3rd Main Road guideline value

The current guideline value of Rajalakshmi Nagar 3rd Main Road 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 Rajalakshmi Nagar 3rd Main Road has changed

The guideline value for Rajalakshmi Nagar 3rd Main Road has seen several revisions over the years. In 2003, the value was Rs 1,217 per sq.ft, which increased to Rs 1,800 per sq.ft in 2007. The 2012 revision brought the value to Rs 4,000 per sq.ft, but it then decreased to Rs 2,680 per sq.ft in 2017. The 2023 revision set the value at Rs 4,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 262%. Notably, there is no figure available for the year 2002 in the register 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, with the median being Rs 4,400 per sq.ft. Rajalakshmi Nagar 3rd Main Road's guideline value is equal to this median.

Stamp duty and registration fee for property in Rajalakshmi Nagar 3rd Main Road

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajalakshmi Nagar 3rd Main Road?

The Sub Registrar Office that covers Rajalakshmi Nagar 3rd Main Road 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 an important factor in property transactions in Velachery. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for determining the sale price. Buyers and sellers must consider this value to ensure compliance with registration requirements and to avoid any disputes during the transaction process.

Frequently asked questions

What is the current guideline value of Rajalakshmi Nagar 3rd Main Road?

The current guideline value of Rajalakshmi Nagar 3rd Main 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 significantly from Rs 1,217 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 262% over the years.

What is the land classification for Rajalakshmi Nagar 3rd Main Road?

The land classification for Rajalakshmi Nagar 3rd Main Road is Residential Class II Type - II.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Rajalakshmi Nagar 3rd Main Road is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

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