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Guideline Value

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Guideline Value for Sakthi Vijayalakshmi Nagar 1st Street

₹4400/sq.ft.

The guideline value for Sakthi Vijayalakshmi Nagar 1st Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. 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 N/A
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 Sakthi Vijayalakshmi Nagar 1st Street

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Sakthi Vijayalakshmi Nagar 1st Street guideline value

The current guideline value of Sakthi Vijayalakshmi Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of Sakthi Vijayalakshmi Nagar 1st Street has changed

The guideline value for Sakthi Vijayalakshmi Nagar 1st Street has undergone several revisions over the years. The earliest recorded revision was in 2012, setting the value at Rs 4,000 per sq.ft. This was followed by a decrease in 2017, where the value dropped to Rs 2,680 per sq.ft. However, in the 2024 revision, the guideline value increased significantly to Rs 4,400 per sq.ft, marking a 64% rise from the 2017 figure and an overall increase of 10% from the 2012 value.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street. The changes in the guideline value reflect the revisions from Rs 4,000 in 2012 to Rs 2,680 in 2017, and then to Rs 4,400 in 2024.

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 is Rs 4,400 per sq.ft, which is equal to the current guideline value of Sakthi Vijayalakshmi Nagar 1st Street.

Stamp duty and registration fee for property in Sakthi Vijayalakshmi Nagar 1st Street

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 charges to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Vijayalakshmi Nagar 1st Street?

The Sakthi Vijayalakshmi Nagar 1st Street falls under 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 serves as a reference point for determining the applicable stamp duty and registration fees, ensuring that both buyers and sellers are aware of the costs involved in the transaction.

When a property is bought or sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sakthi Vijayalakshmi Nagar 1st Street?

The current guideline value of Sakthi Vijayalakshmi Nagar 1st Street 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 in 2012 to Rs 2,680 in 2017, and then to Rs 4,400 in 2024. The increase from 2017 to 2024 is 64%.

What is the land classification for Sakthi Vijayalakshmi Nagar 1st Street?

Sakthi Vijayalakshmi Nagar 1st Street is classified as Residential Class II Type - II.

Where can I find the Velacheri Sub Registrar Office?

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 Velachery?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at a rate of 7%.