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Guideline Value

Corporate

Guideline Value for Sriram Nagar Yogi Garden

₹3850/sq.ft.

The guideline value for Sriram Nagar Yogi Garden in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. 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 N/A
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 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 Sriram Nagar Yogi Garden

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Sriram Nagar Yogi Garden guideline value

The current guideline value of Sriram Nagar Yogi Garden is Rs 3,850 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 - III.

How the guideline value of Sriram Nagar Yogi Garden has changed

The guideline value for Sriram Nagar Yogi Garden has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which decreased to Rs 2,345 per sq.ft in the 2017 revision. However, the latest revision in 2024 saw an increase to Rs 3,850 per sq.ft, marking a significant rise of 64% from the 2017 figure. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2023 for this street. Thus, the only relevant revisions are from 2012, 2017, and the latest in 2024.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft as of the 2024 revision. The median guideline value in this area is Rs 4,400 per sq.ft, indicating that Sriram Nagar Yogi Garden's 2024 figure is below the median.

Stamp duty and registration fee for property in Sriram Nagar Yogi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to 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, bringing the total to Rs 3,46,500. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sriram Nagar Yogi Garden?

The Sriram Nagar Yogi Garden 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 plays a critical role in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that these fees are calculated based on a standardized value set by the government.

When a property is sold, the higher of the guideline value and the sale price is used to calculate the stamp duty. This ensures that the fees reflect the true value of the property being transferred, providing a fair basis for taxation.

Frequently asked questions

What is the current guideline value of Sriram Nagar Yogi Garden?

The current guideline value of Sriram Nagar Yogi Garden 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 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,850 per sq.ft in 2024. This reflects a 64% increase from 2017 to 2024.

What is the land classification for Sriram Nagar Yogi Garden?

Sriram Nagar Yogi Garden is classified as Residential Class II Type - III, which indicates its designation for residential use.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

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. It handles the registration of properties in the Sriram Nagar Yogi Garden area.