Guideline Value

Corporate

Guideline Value for Secretariate Colony 2nd Cross Street

₹4400/sq.ft.

The guideline value for Secretariate Colony 2nd Cross 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 Secretariate Colony 2nd Cross Street

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Secretariate Colony 2nd Cross Street guideline value

The current guideline value for Secretariate Colony 2nd Cross 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 Secretariate Colony 2nd Cross Street has changed

Over the years, the guideline value for Secretariate Colony 2nd Cross Street has seen several revisions. The earliest recorded revision is from 2012, where the guideline value was Rs 4,000 per sq.ft. This figure decreased to Rs 2,680 per sq.ft in the 2017 revision, marking a decline of 33%. However, in the 2024 revision, the value increased significantly to Rs 4,400 per sq.ft, representing a 64% increase from the 2017 revision.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 for this street.

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 the median being Rs 4,400 per sq.ft. The guideline value for Secretariate Colony 2nd Cross Street is equal to this median value.

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

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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, totaling Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Secretariate Colony 2nd Cross Street?

The Sub Registrar Office covering Secretariate Colony 2nd Cross 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 an important factor when buying or selling property in Velachery. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and transparently. Buyers and sellers must consider this value to understand the financial implications of their property transactions.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the true value of the property being exchanged.

Frequently asked questions

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

The current guideline value for Secretariate Colony 2nd Cross 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, then increased to Rs 4,400 per sq.ft in 2024. This reflects a significant increase of 64% from 2017 to 2024.

What are the registration fees for property in Secretariate Colony 2nd Cross Street?

The registration fees for a property in Secretariate Colony 2nd Cross Street include a stamp duty of 7% and a registration fee of 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,96,000.

Which office handles registrations for properties in Secretariate Colony 2nd Cross Street?

The Velacheri Sub Registrar Office handles registrations for properties in Secretariate Colony 2nd Cross Street. The office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value determined for properties in Velachery?

The guideline value for properties in Velachery is determined based on various factors and is updated periodically. It serves as a reference point for property transactions, ensuring that properties are registered at a fair value.