Guideline Value for Tansi Nagar 10th Street

Tansi Nagar 10th Street guideline value

The current guideline value of Tansi Nagar 10th Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Tansi Nagar 10th Street has changed

The guideline value for Tansi Nagar 10th Street has seen several revisions over the years. In 2002, the guideline value was Rs 406 per sq.ft. This figure rose significantly to Rs 2,200 per sq.ft in 2007, marking an increase of 442%. Following this, in 2012, the value decreased to Rs 4,500 per sq.ft, a decline of 33%. The value then rose again to Rs 3,015 per sq.ft in 2017, which was a 49% increase from the previous revision. In 2023, the guideline value reached Rs 4,500 per sq.ft, and it increased by 10% to Rs 4,950 per sq.ft in 2024.

It is important to note that there is no figure available for Tansi Nagar 10th Street in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 1119%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with 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, placing Tansi Nagar 10th Street's 2024 figure above the median.

• Tansi Nagar 100Feet Road: Rs 13,200 per sq.ft (2024)
• Tansi Nagar 11th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar: 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 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tansi Nagar 10th Street?

The Sub Registrar Office that covers Tansi Nagar 10th 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 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 a property can be registered, ensuring that the transaction is recorded accurately and fairly.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This value helps prevent undervaluation of properties, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Tansi Nagar 10th Street?

The current guideline value of Tansi Nagar 10th Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 406 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, marking an overall increase of 1119% over this period.

What is the median guideline value in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft, with Tansi Nagar 10th Street's 2024 figure being above this median.

What are the stamp duty and registration fees for a property in Tansi Nagar 10th Street?

For a 1,000 sq.ft plot at the guideline value of Rs 4,950 per sq.ft, the total guideline value is Rs 49,50,000. The stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which office handles registrations for Tansi Nagar 10th Street?

The Velacheri Sub Registrar Office handles registrations for Tansi Nagar 10th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.