Guideline Value for Tansi Nagar 100Feet Road

Tansi Nagar 100Feet Road guideline value

The current guideline value of Tansi Nagar 100Feet Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Tansi Nagar 100Feet Road has changed

The guideline value for Tansi Nagar 100Feet Road has undergone several revisions since 2017. In 2017, the guideline value was Rs 8,040 per sq.ft. This figure increased significantly to Rs 12,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw the value rise further to Rs 13,200 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Over the overall period from 2017 to 2024, the guideline value has increased by 64%.

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 in this area is Rs 4,400 per sq.ft, which means Tansi Nagar 100Feet Road's 2024 figure is above that median.

• Tansi Nagar: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 10th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 11th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 12th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 13th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 14th Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Tansi Nagar 100Feet Road

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Tansi Nagar 100Feet Road?

The Sub Registrar Office that covers Tansi Nagar 100Feet Road 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 a crucial factor in determining the stamp duty and registration fees when buying or selling property in Velachery. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per the government regulations.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, which is essential for funding public services and infrastructure.

Frequently asked questions

What is the current guideline value of Tansi Nagar 100Feet Road?

The current guideline value of Tansi Nagar 100Feet Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 8,040 per sq.ft to Rs 13,200 per sq.ft in 2024, marking an overall increase of 64%.

What was the guideline value in 2023?

The guideline value for Tansi Nagar 100Feet Road in 2023 was Rs 12,000 per sq.ft.

Which office handles registrations for Tansi Nagar 100Feet Road?

The Velacheri Sub Registrar Office handles registrations for Tansi Nagar 100Feet Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 1,32,00,000, the stamp duty at 7% would be Rs 9,24,000.