Guideline Value

Corporate

Guideline Value for Secretariat Colony 2nd Street

₹4400/sq.ft.

The guideline value for Secretariat Colony 2nd 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 Secretariat Colony 2nd Street

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Secretariat Colony 2nd Street guideline value

The current guideline value of Secretariat Colony 2nd 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 Secretariat Colony 2nd Street has changed

The guideline value for Secretariat Colony 2nd Street has undergone several revisions over the years. In 2012, the guideline value was Rs 4,000 per sq.ft, which decreased to Rs 2,680 per sq.ft in the 2017 revision. However, the most recent revision in 2024 saw a significant increase to Rs 4,400 per sq.ft, marking a 64% rise from the 2017 figure. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

There are no figures available for the revisions in 2002, 2003, 2007, and 2023 for this street. The changes between the revisions indicate a fluctuation in the guideline value, particularly with a notable decrease from 2012 to 2017, followed by a substantial increase in the latest revision.

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 guideline value is Rs 4,400 per sq.ft, which is the same as the current value for Secretariat Colony 2nd Street.

Stamp duty and registration fee for property in Secretariat Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees 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.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Secretariat Colony 2nd Street?

The Sub Registrar Office that covers Secretariat Colony 2nd 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 when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers should be aware that the guideline value will influence the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value is compared with the sale price, and the higher of the two will be used to calculate the stamp duty. This ensures that the government receives appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Secretariat Colony 2nd Street?

The current guideline value of Secretariat Colony 2nd 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 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, and then increased to Rs 4,400 per sq.ft in 2024, marking significant fluctuations over the years.

What are the stamp duty rates for properties in Secretariat Colony 2nd Street?

The stamp duty for properties in Secretariat Colony 2nd Street is charged at 7% of the guideline value or the sale price, whichever is higher.

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

The Velacheri Sub Registrar Office covers Secretariat Colony 2nd Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Secretariat Colony 2nd Street?

Secretariat Colony 2nd Street is classified as Residential Class II Type - II, indicating its suitability for residential development.