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Guideline Value

Corporate

Guideline Value for Rajalakshmi Nagar 7th Cross Street

₹13200/sq.ft.

The guideline value for Rajalakshmi Nagar 7th Cross Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 13200 per sq.ft, effective 1 July 2024. It was Rs 12000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹13200 /sq.ft.
From 1-4-2023 ₹12000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹8040 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹12000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2000 /sq.ft.
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 Rajalakshmi Nagar 7th Cross Street

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Rajalakshmi Nagar 7th Cross Street guideline value

The current guideline value of Rajalakshmi Nagar 7th Cross Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Rajalakshmi Nagar 7th Cross Street has changed

The guideline value for Rajalakshmi Nagar 7th Cross Street has seen several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 12,000 per sq.ft in 2012, marking a 500% rise. However, the value then decreased to Rs 8,040 per sq.ft in 2017, a drop of 33%. Following this, the guideline value surged to Rs 12,000 per sq.ft in 2023, and finally, it has reached Rs 13,200 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 560%. The register has no figures for the years 2002 and 2003 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 a median value of Rs 4,400 per sq.ft. The guideline value of Rajalakshmi Nagar 7th Cross Street is significantly above this median.

Stamp duty and registration fee for property in Rajalakshmi Nagar 7th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. 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 precise calculations.

Which Sub Registrar Office covers Rajalakshmi Nagar 7th Cross Street?

The Sub Registrar Office that covers Rajalakshmi Nagar 7th Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Velachery

The guideline value plays a crucial role during property transactions in Velachery. When you buy or sell property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory costs associated with the registration process.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the financial obligations during the transaction. Accurate knowledge of the guideline value ensures compliance with legal requirements and helps in planning financial aspects effectively.

Frequently asked questions

What is the current guideline value of Rajalakshmi Nagar 7th Cross Street?

The current guideline value of Rajalakshmi Nagar 7th Cross Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What are the stamp duty and registration fees for this street?

For a property valued at Rs 1,32,00,000 on Rajalakshmi Nagar 7th Cross Street, the stamp duty is Rs 9,24,000, and the registration fee is Rs 2,64,000, totaling Rs 11,88,000.

Where is the Sub Registrar Office located?

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

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that buyers and sellers comply with legal requirements and understand their financial obligations.