Guideline Value

Corporate

Guideline Value for Soni Nagar 3rd Street

₹3850/sq.ft.

The guideline value for Soni Nagar 3rd Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 ₹1500 /sq.ft.
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 Soni Nagar 3rd Street

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Soni Nagar 3rd Street guideline value

The current guideline value of Soni Nagar 3rd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Soni Nagar 3rd Street has changed

The guideline value for Soni Nagar 3rd Street has undergone several revisions over the years. The oldest recorded figure is from 2007, where it was Rs 1,500 per sq.ft. In 2017, the value increased to Rs 2,345 per sq.ft, marking a change of +56%. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, which is an increase of +64% from the 2017 figure. Overall, from 2007 to 2024, the guideline value has risen by +157%.

There are no recorded figures for the years 2023, 2012, 2003, and 2002 for Soni Nagar 3rd Street in the register.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have 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 Soni Nagar 3rd Street is below this median.

Stamp duty and registration fee for property in Soni Nagar 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that 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 Soni Nagar 3rd Street?

The Sub Registrar Office that covers Soni Nagar 3rd 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 further assistance.

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

The guideline value is a crucial factor when registering a property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to assess the applicable fees, ensuring that the transaction reflects the official valuation set by the Registration Department. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Soni Nagar 3rd Street?

The current guideline value of Soni Nagar 3rd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 2,345 per sq.ft in 2017, and then to Rs 3,850 per sq.ft in 2024, marking significant increases over the years.

What are the guideline values for other streets in Velachery?

Other streets in Velachery have varying guideline values, with Soni Nagar 2nd Street, Soni Nagar 1st Street, and Soni Nagar all at Rs 3,850 per sq.ft, while SPIC Nagar, Sivasakthi Street, and Sri Devi Nagar are at Rs 4,400 per sq.ft in 2024.

What is the stamp duty for property in Soni Nagar 3rd Street?

The stamp duty for a property in Soni Nagar 3rd Street is calculated at 7% of the guideline value. For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500.

Where can I find the Sub Registrar Office for Soni Nagar 3rd Street?

The Sub Registrar Office for Soni Nagar 3rd Street is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles property registrations for the area.