Guideline Value

Corporate

Guideline Value for Seva Nagar 1st Street

₹4400/sq.ft.

The guideline value for Seva Nagar 1st Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. 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 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹385 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹343 /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 Seva Nagar 1st Street

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Seva Nagar 1st Street guideline value

The current guideline value of Seva Nagar 1st 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 Seva Nagar 1st Street has changed

Over the years, the guideline value of Seva Nagar 1st Street has seen significant changes. The earliest recorded figure is from 2002, with a guideline value of Rs 343 per sq.ft. This value increased to Rs 385 per sq.ft in 2003, marking a rise of 12%. Following this, the value surged dramatically to Rs 1,800 per sq.ft in 2007, reflecting an increase of 368%. In 2012, the guideline value remained at Rs 4,000 per sq.ft, which persisted until 2023. The most recent revision in 2024 shows an increase to Rs 4,400 per sq.ft, a rise of 10% from the previous year.

It is important to note that there is no figure available for the 2017 revision for this street. Overall, from 2002 to 2024, the guideline value has increased by 1183%.

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 equal to the current guideline value of Seva Nagar 1st Street.

Stamp duty and registration fee for property in Seva Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, calculated at 7%, would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Seva Nagar 1st Street?

The Sub Registrar Office that covers Seva Nagar 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 details.

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 at which a property can be registered. Buyers must pay stamp duty and registration fees based on this guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it impacts the overall cost of the transaction. It ensures that the property is valued fairly in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Seva Nagar 1st Street?

The current guideline value of Seva Nagar 1st 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 significantly from Rs 343 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 1183% over this period.

What is the land classification for Seva Nagar 1st Street?

Seva Nagar 1st Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for a property in Seva Nagar 1st Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Seva Nagar 1st Street located?

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