Guideline Value

Corporate

Guideline Value for Sri Vinayagapuram

₹4400/sq.ft.

The guideline value for Sri Vinayagapuram 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 ₹1575 /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 Vinayagapuram

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Sri Vinayagapuram guideline value

The current guideline value of Sri Vinayagapuram is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Sri Vinayagapuram has changed

The guideline value for Sri Vinayagapuram has undergone several revisions over the years. The oldest recorded figure is from the 2007 revision, which was Rs 1,575 per sq.ft. This value increased significantly to Rs 4,000 per sq.ft in the 2023 revision, marking a change of 154%. The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2017 for this street. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 179%.

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 of Sri Vinayagapuram.

Stamp duty and registration fee for property in Sri Vinayagapuram

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 at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Vinayagapuram?

Sri Vinayagapuram falls under 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 critical factor during property transactions in Velachery. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when registering a property. The value is set by the Registration Department and is periodically revised to reflect market conditions.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, which helps in maintaining transparency in the real estate market. Buyers should be aware of the current guideline value to ensure they are paying the appropriate fees and taxes.

Frequently asked questions

What is the current guideline value of Sri Vinayagapuram?

The current guideline value of Sri Vinayagapuram is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased by 179%, rising from Rs 1,575 per sq.ft to Rs 4,400 per sq.ft in 2024.

What is the registration office for Sri Vinayagapuram?

The registration office for Sri Vinayagapuram is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Sri Vinayagapuram?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Are there other streets with the same guideline value in Velachery?

Yes, there are other streets in Velachery with the same guideline value of Rs 4,400 per sq.ft, including Sri Sakthi Vijayalakshmi Nagar 1st Street and Sri Sakthi Vijayalakshmi Nagar 2nd Street.