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Guideline Value

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Guideline Value for Sri Sakthi Vijayalakshmi Nagar 2nd Street

₹4400/sq.ft.

The guideline value for Sri Sakthi Vijayalakshmi Nagar 2nd 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 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 Sakthi Vijayalakshmi Nagar 2nd Street

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Sri Sakthi Vijayalakshmi Nagar 2nd Street guideline value

The current guideline value for Sri Sakthi Vijayalakshmi Nagar 2nd 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 falls under the Residential Class II Type - II land classification.

How the guideline value of Sri Sakthi Vijayalakshmi Nagar 2nd Street has changed

The guideline value for Sri Sakthi Vijayalakshmi Nagar 2nd Street has seen significant changes over the years. In the 2007 revision, the value was Rs 2,000 per sq.ft. This increased to Rs 4,000 per sq.ft in the 2023 revision, marking a 100% rise. The latest revision in 2024 has set the value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 120%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2012, and 2017 for this street.

Guideline values in Velachery

In Velachery, the guideline values range from Rs 3,300 to Rs 13,200 per sq.ft as of 2024, with the median value being Rs 4,400 per sq.ft. The guideline value for Sri Sakthi Vijayalakshmi Nagar 2nd Street is equal to this median.

Stamp duty and registration fee for property in Sri Sakthi Vijayalakshmi Nagar 2nd Street

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, while the registration fee at 2% would be Rs 88,000, bringing the total to 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.

You can use the stamp duty and registration fee calculator for accurate calculations based on your property details.

Which Sub Registrar Office covers Sri Sakthi Vijayalakshmi Nagar 2nd Street?

The Sub Registrar Office that covers Sri Sakthi Vijayalakshmi Nagar 2nd 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 a crucial factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in the process.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sri Sakthi Vijayalakshmi Nagar 2nd Street?

The current guideline value of Sri Sakthi Vijayalakshmi Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 2,000 per sq.ft to Rs 4,400 per sq.ft in 2024, marking an overall increase of 120%.

What is the land classification for Sri Sakthi Vijayalakshmi Nagar 2nd Street?

Sri Sakthi Vijayalakshmi Nagar 2nd Street is classified under Residential Class II Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Sri Sakthi Vijayalakshmi Nagar 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000.