Guideline Value

Corporate

Guideline Value for Subha Reddy Lane

₹3850/sq.ft.

The guideline value for Subha Reddy Lane 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 ₹1500 /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 Subha Reddy Lane

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Subha Reddy Lane guideline value

The current guideline value of Subha Reddy Lane is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Subha Reddy Lane has changed

The guideline value for Subha Reddy Lane has undergone several revisions over the years. In 2007, the value was set at Rs 1,500 per sq.ft. This figure increased to Rs 3,500 per sq.ft in 2012, marking a significant rise of 133%. However, in 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The most recent revision in 2024 saw the guideline value rise to Rs 3,850 per sq.ft, reflecting an increase of 64% from the 2017 figure.

There are no figures available for the revisions in 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 157%.

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 guideline value for these streets is Rs 4,400 per sq.ft, which means that the 2024 figure for Subha Reddy Lane is below this median.

Stamp duty and registration fee for property in Subha Reddy Lane

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the 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, totaling Rs 3,46,500. 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 Subha Reddy Lane?

The Sub Registrar Office covering Subha Reddy Lane 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 the registration process of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Subha Reddy Lane?

The current guideline value of Subha Reddy Lane 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 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 157% over the years.

What are the other streets with the same guideline value in Velachery?

Other streets in Velachery with the same guideline value of Rs 3,850 per sq.ft in 2024 include Subba Reddy Lane, MKN Road, Subramani Koil Street, Subramani Street, Subramaniyar Koil Street, and Sudha Nagar.

Where can I find the Sub Registrar Office for Subha Reddy Lane?

The Sub Registrar Office for Subha Reddy Lane is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How are stamp duty and registration fees calculated for properties in Subha Reddy Lane?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 38,50,000, the total fees would include a stamp duty of Rs 2,69,500 and a registration fee of Rs 77,000.