Guideline Value

Corporate

Guideline Value for Sri Nagar Colony Main Road

₹3850/sq.ft.

The guideline value for Sri Nagar Colony Main Road in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. 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 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
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 Sri Nagar Colony Main Road

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Sri Nagar Colony Main Road guideline value

The current guideline value of Sri Nagar Colony Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Sri Nagar Colony Main Road has changed

The guideline value for Sri Nagar Colony Main Road has undergone several revisions over the years. The earliest available figure is from 2007, where the value was Rs 1,500 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 133%. However, it then decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%. The value saw a substantial increase to Rs 3,500 per sq.ft in 2023, and further rose to the current rate of Rs 3,850 per sq.ft in 2024, which is an increase of 10% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 157%.

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 Sri Nagar Colony Main Road is below this median.

Stamp duty and registration fee for property in Sri Nagar Colony Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be 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, making the total fees together Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Nagar Colony Main Road?

The Sub Registrar Office covering Sri Nagar Colony Main Road 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 essential factor in property transactions in Velachery. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider the guideline value when finalizing the sale price of a property.

When registering a property, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately. It helps in maintaining transparency in property dealings and ensures that the correct taxes are levied based on the value of the property.

Frequently asked questions

What is the current guideline value of Sri Nagar Colony Main Road?

The current guideline value of Sri Nagar Colony Main Road 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 3,850 per sq.ft in 2024, reflecting an overall increase of 157% over the years.

What is the median guideline value in Velachery?

The median guideline value in Velachery is Rs 4,400 per sq.ft, with the values for various streets ranging from Rs 3,300 to Rs 13,200 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Sri Nagar Colony Main Road?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Where is the Sub Registrar Office for Sri Nagar Colony Main Road located?

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