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Guideline Value

Corporate

Guideline Value for Sri Rajalakshmi Nagar 1st Main Road

₹4400/sq.ft.

The guideline value for Sri Rajalakshmi Nagar 1st Main Road 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 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 ₹2000 /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 Rajalakshmi Nagar 1st Main Road

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Sri Rajalakshmi Nagar 1st Main Road guideline value

The current guideline value for Sri Rajalakshmi Nagar 1st Main Road is Rs 4,400 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 - II.

How the guideline value of Sri Rajalakshmi Nagar 1st Main Road has changed

The guideline value for Sri Rajalakshmi Nagar 1st Main Road has seen several revisions over the years. The 2007 revision set the value at Rs 2,000 per sq.ft, which increased to Rs 2,680 per sq.ft in the 2017 revision, marking a 34% rise. The subsequent revision in 2023 raised the value to Rs 4,000 per sq.ft, reflecting a significant increase of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 4,400 per sq.ft, which is a 10% rise from the previous year.

It is important to note that there are no figures available in the register for the years 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

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 value is Rs 4,400 per sq.ft, which is equal to the current guideline value for Sri Rajalakshmi Nagar 1st Main Road.

Stamp duty and registration fee for property in Sri Rajalakshmi Nagar 1st Main Road

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 cost 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Rajalakshmi Nagar 1st Main Road?

The Sub Registrar Office covering Sri Rajalakshmi Nagar 1st 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 plays a crucial role in the registration of property transactions in Velachery. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

When a property is sold, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the government receives the correct amount based on the property's worth.

Frequently asked questions

What is the current guideline value of Sri Rajalakshmi Nagar 1st Main Road?

The current guideline value of Sri Rajalakshmi Nagar 1st Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 2,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, which is an overall increase of 120% over the years.

What are the stamp duty and registration fees for properties on this road?

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.

Which Sub Registrar Office is responsible for this area?

The Velacheri Sub Registrar Office is responsible for Sri Rajalakshmi Nagar 1st Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is compared with the sale price, and the higher value is used for calculating the applicable fees.