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Guideline Value

Corporate

Guideline Value for Rajiv Gandhi Nagar Vignesh Street

₹3850/sq.ft.

The guideline value for Rajiv Gandhi Nagar Vignesh Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 ₹1500 /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 Rajiv Gandhi Nagar Vignesh Street

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Rajiv Gandhi Nagar Vignesh Street guideline value

The current guideline value of Rajiv Gandhi Nagar Vignesh Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO, with a land classification of Residential Class II Type - III.

How the guideline value of Rajiv Gandhi Nagar Vignesh Street has changed

The guideline value for Rajiv Gandhi Nagar Vignesh Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 1,500 per sq.ft. This value increased to Rs 2,345 per sq.ft in 2017, marking a significant rise of 56%. The subsequent revision in 2023 saw the value increase to Rs 3,500 per sq.ft, which is a 49% increase from the previous figure. Currently, in 2024, the guideline value stands at Rs 3,850 per sq.ft, reflecting a 10% increase from 2023. It is important to note that there are no figures available for the years 2002, 2003, and 2012 in the register for this street.

Overall, from the 2007 revision to the 2024 revision, there has been an increase of 157% in the guideline value. This consistent rise illustrates the changing landscape of property values in the area.

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, placing the guideline value of Rajiv Gandhi Nagar Vignesh Street below this median.

Stamp duty and registration fee for property in Rajiv Gandhi Nagar Vignesh Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty charged at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, these fees total Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajiv Gandhi Nagar Vignesh Street?

The Rajiv Gandhi Nagar Vignesh Street is covered by 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 the registration process for property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value according to government standards.

When buying or selling property, the guideline value influences the stamp duty and registration fees that need to be paid. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, impacting the overall financial commitment involved in the transaction.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Nagar Vignesh Street?

The current guideline value of Rajiv Gandhi Nagar Vignesh Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, which is an overall increase of 157% over the years.

What is the land classification of Rajiv Gandhi Nagar Vignesh Street?

The land classification of Rajiv Gandhi Nagar Vignesh Street is Residential Class II Type - III.

Which Sub Registrar Office covers this street?

The Velacheri Sub Registrar Office covers Rajiv Gandhi Nagar Vignesh Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 3,46,500.