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Guideline Value

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Guideline Value for Sankaran Nayar Avenue 1st Street

₹6600/sq.ft.

The guideline value for Sankaran Nayar Avenue 1st Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 6600 per sq.ft, effective 1 July 2024. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹6600 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹6000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹343 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹306 /sq.ft.
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 Sankaran Nayar Avenue 1st Street

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Sankaran Nayar Avenue 1st Street guideline value

The current guideline value of Sankaran Nayar Avenue 1st Street is Rs 6,600 per sq.ft. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sankaran Nayar Avenue 1st Street has changed

The guideline value has seen several revisions over the years. The earliest recorded revision was in 2002, with a guideline value of Rs 306 per sq.ft. This increased to Rs 343 per sq.ft in 2003, marking a rise of 12%. The value then surged significantly to Rs 1,800 per sq.ft in 2007, reflecting a 425% increase. Following this, the 2012 revision set the value at Rs 6,000 per sq.ft, which was a 233% increase from the previous revision. The most recent revision in 2024 has further raised the guideline value to Rs 6,600 per sq.ft, a 10% increase from 2012.

It is important to note that the register has no figures for the years 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 2057%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have 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, placing Sankaran Nayar Avenue 1st Street above this median.

Stamp duty and registration fee for property in Sankaran Nayar Avenue 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000, bringing the total cost to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sankaran Nayar Avenue 1st Street?

The Sub Registrar Office covering Sankaran Nayar Avenue 1st Street is 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 during the registration of property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When a buyer or seller engages in a property transaction, the guideline value helps ensure that the transaction is recorded accurately in the official register. This value is used to calculate the taxes associated with the sale, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sankaran Nayar Avenue 1st Street?

The current guideline value of Sankaran Nayar Avenue 1st Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 306 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 2057%.

What is the land classification for Sankaran Nayar Avenue 1st Street?

The land classification for Sankaran Nayar Avenue 1st Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for this street?

The Velacheri Sub Registrar Office covers Sankaran Nayar Avenue 1st Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

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 66,00,000 would incur a stamp duty of Rs 4,62,000 at 7%.