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Guideline Value

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Guideline Value for Sakthi Vijayalakshmi Nagar 3rd Street

₹4400/sq.ft.

The guideline value for Sakthi Vijayalakshmi Nagar 3rd 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 ₹1800 /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 Sakthi Vijayalakshmi Nagar 3rd Street

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Sakthi Vijayalakshmi Nagar 3rd Street guideline value

The current guideline value of Sakthi Vijayalakshmi Nagar 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Sakthi Vijayalakshmi Nagar 3rd Street has changed

The guideline value for Sakthi Vijayalakshmi Nagar 3rd Street has experienced several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 122%. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The most recent revision in 2024 brought the value back up to Rs 4,400 per sq.ft, reflecting a substantial increase of 64% from the 2017 figure.

Overall, comparing the 2007 and 2024 revisions, the guideline value has increased by 144%. It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current figure for Sakthi Vijayalakshmi Nagar 3rd Street.

Stamp duty and registration fee for property in Sakthi Vijayalakshmi Nagar 3rd 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 fees together to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Vijayalakshmi Nagar 3rd Street?

The Sub Registrar Office covering Sakthi Vijayalakshmi Nagar 3rd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For further assistance, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Velachery, as it determines the minimum value at which a property can be registered. When you buy or sell property, this value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations and to avoid any legal issues during the registration process. Understanding this value can help in making informed decisions regarding property transactions.

Frequently asked questions

What is the current guideline value of Sakthi Vijayalakshmi Nagar 3rd Street?

The current guideline value of Sakthi Vijayalakshmi Nagar 3rd 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 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 144%. There were notable decreases and increases in between, particularly a drop from Rs 4,000 in 2012 to Rs 2,680 in 2017.

What is the land classification for Sakthi Vijayalakshmi Nagar 3rd Street?

Sakthi Vijayalakshmi Nagar 3rd Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for this area?

The Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042, handles registrations for Sakthi Vijayalakshmi Nagar 3rd Street.