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Guideline Value

Corporate

Guideline Value for Tamil Nadu Housing Board Colony

₹4400/sq.ft.

The guideline value for Tamil Nadu Housing Board Colony 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 N/A
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 ₹301 /sq.ft.
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 Tamil Nadu Housing Board Colony

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Tamil Nadu Housing Board Colony guideline value

The current guideline value for Tamil Nadu Housing Board Colony is Rs 4,400 per sq.ft, effective from 1 July 2024. This colony is located in Velachery village, under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of Tamil Nadu Housing Board Colony has changed

The guideline value has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 301 per sq.ft, which increased dramatically to Rs 1,800 per sq.ft in 2007, marking a change of +498%. The value then rose to Rs 2,680 per sq.ft in 2017, reflecting a further increase of +49%. The 2023 revision set the value at Rs 4,000 per sq.ft, which was a +49% increase from the previous revision. The most recent 2024 revision has brought the guideline value to Rs 4,400 per sq.ft, a +10% increase from 2023.

It is important to note that there are no figures available for the years 2003 and 2012 for this street. Overall, from 2002 to 2024, the guideline value has increased by +1362%.

Guideline values in Velachery

In Velachery, there are a total of 2691 streets under the Velacheri SRO carrying 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 the same as the current guideline value for Tamil Nadu Housing Board Colony.

Stamp duty and registration fee for property in Tamil Nadu Housing Board Colony

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Tamil Nadu Housing Board Colony?

The Tamil Nadu Housing Board Colony 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 crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is documented accurately.

When the property is sold, the guideline value is used to calculate applicable duties and fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Tamil Nadu Housing Board Colony?

The current guideline value for Tamil Nadu Housing Board Colony 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 increased significantly from Rs 301 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of +1362% over this period.

What is the stamp duty rate for property in Tamil Nadu Housing Board Colony?

The stamp duty rate for property transactions in Tamil Nadu is 7% of the guideline value or sale price, whichever is higher.

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.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties and is essential for calculating stamp duty and registration fees during property transactions.