Guideline Value for Sanjeev Street

Sanjeev Street guideline value

The current guideline value of Sanjeev Street is Rs 3,850 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 - III.

How the guideline value of Sanjeev Street has changed

The guideline value for Sanjeev Street has undergone several revisions over the years. In the 2007 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure saw a significant increase in the 2012 revision, rising to Rs 3,500 per sq.ft, which represents a change of +133%. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, marking a +10% increase from the 2012 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +157%. It is important to note that there are no figures available for the years 2002, 2003, 2017, and 2023 for Sanjeev Street in the register.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, indicating that the guideline value of Sanjeev Street is below this median.

• Sanjay Garden Street Extn: Rs 3,850 per sq.ft (2024)
• Sankaran Avenue Indira Street: Rs 6,600 per sq.ft (2024)
• Sanjay Garden Street: Rs 3,850 per sq.ft (2024)
• Sankaran Avenue Janakpuri 1st Street: Rs 6,600 per sq.ft (2024)
• Sankaran Avenue Radha Mohan Street: Rs 6,600 per sq.ft (2024)
• Sankaran Nayar Avenue: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sanjeev 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 at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sanjeev Street?

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

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 the basis for calculating the stamp duty and registration fees that are payable at the time of registration. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements and to accurately assess the financial implications of their transactions.

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

Frequently asked questions

What is the current guideline value of Sanjeev Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 3,500 per sq.ft in 2012, and then to Rs 3,850 per sq.ft in 2024. This represents an overall increase of +157% from 2007 to 2024.

What are the other streets in Velachery with similar guideline values?

Other streets in Velachery include Sanjay Garden Street Extn and Sanjay Garden Street, both at Rs 3,850 per sq.ft, while several other streets like Sankaran Avenue Indira Street are valued at Rs 6,600 per sq.ft.

What is the registration fee for property in Sanjeev Street?

The registration fee for property in Sanjeev Street is calculated at 2% of the guideline value. For a property valued at Rs 38,50,000, the registration fee would amount to Rs 77,000.

Where can I find the Sub Registrar Office for Sanjeev Street?

The Sub Registrar Office for Sanjeev Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find more information about your SRO through the provided link.