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Guideline Value

Corporate

Guideline Value for Sankaran Nayar Avenue

₹6600/sq.ft.

The guideline value for Sankaran Nayar Avenue 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 ₹1088 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹576 /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

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Sankaran Nayar Avenue guideline value

The current guideline value of Sankaran Nayar Avenue is Rs 6,600 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 I Type - I.

How the guideline value of Sankaran Nayar Avenue has changed

The guideline value for Sankaran Nayar Avenue has seen significant changes over the years. In 2002, the guideline value was Rs 576 per sq.ft. This increased to Rs 1,088 per sq.ft in 2003, marking an increase of 89%. The value then rose to Rs 1,800 per sq.ft in 2007, which was a 65% increase from the previous revision. Following this, in 2012, the guideline value was set at Rs 6,000 per sq.ft, reflecting a substantial increase of 233% from 2007. The most recent revision in 2024 has raised the value to Rs 6,600 per sq.ft, a 10% increase from the 2012 figure.

It is important to note that there are no figures available for the revisions in 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1046%.

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, with a median value of Rs 4,400 per sq.ft. The guideline value of Rs 6,600 per sq.ft for Sankaran Nayar Avenue is above this median.

Stamp duty and registration fee for property in Sankaran Nayar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees to Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sankaran Nayar Avenue?

The Sub Registrar Office that covers Sankaran Nayar Avenue 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the buyer and seller must consider the guideline value to determine the applicable fees. This ensures transparency in transactions and helps avoid discrepancies between the sale price and the registered value.

Frequently asked questions

What is the current guideline value of Sankaran Nayar Avenue?

The current guideline value of Sankaran Nayar Avenue 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 changed significantly from Rs 576 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 1046% over this period.

What is the stamp duty rate for properties in Sankaran Nayar Avenue?

The stamp duty rate for properties in Sankaran Nayar Avenue is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sankaran Nayar Avenue located?

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

What are the guideline values for other streets in Velachery?

Other streets in Velachery under the Velacheri SRO have a guideline value of Rs 6,600 per sq.ft in 2024, including Sankaran Avenue Radha Mohan Street, Sankaran Nayar Avenue 1st Street, and several others.