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Guideline Value

Corporate

Guideline Value for Srinivasa Nagar Ist Street

₹4400/sq.ft.

The guideline value for Srinivasa Nagar Ist 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 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
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 Srinivasa Nagar Ist Street

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Srinivasa Nagar Ist Street guideline value

The current guideline value of Srinivasa Nagar Ist 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 is classified as Residential Class II Type - II.

How the guideline value of Srinivasa Nagar Ist Street has changed

The guideline value for Srinivasa Nagar Ist Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 4,000 per sq.ft, and the latest revision in 2024 set it at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figure for this street for the years 2002, 2003, and 2007.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current value of Srinivasa Nagar Ist Street.

Stamp duty and registration fee for property in Srinivasa Nagar Ist 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, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srinivasa Nagar Ist Street?

The Sub Registrar Office covering Srinivasa Nagar Ist 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 an essential factor in property transactions in Velachery. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value serves as a reference point for both parties. It helps in assessing the fair value of the property and ensures compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar Ist Street?

The current guideline value of Srinivasa Nagar Ist Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 in 2012 to Rs 2,680 in 2017, then back to Rs 4,000 in 2023, and finally to Rs 4,400 in 2024. This reflects various increases and decreases over the years.

What is the land classification for Srinivasa Nagar Ist Street?

Srinivasa Nagar Ist Street is classified as Residential Class II Type - II. This classification influences the guideline value and property regulations in the area.

Where is the Velacheri Sub Registrar Office located?

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

How is stamp duty calculated for properties in Srinivasa Nagar Ist Street?

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