Guideline Value for Tansi Nagar 12th Street

Tansi Nagar 12th Street guideline value

The current guideline value of Tansi Nagar 12th 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 is classified as Residential Class II Type - I.

How the guideline value of Tansi Nagar 12th Street has changed

Since the 2002 revision, the guideline value for Tansi Nagar 12th Street has seen significant changes. In 2002, the value was Rs 406 per sq.ft, which rose to Rs 2,200 per sq.ft in 2007, marking an increase of 442%. The value then increased to Rs 4,500 per sq.ft in 2012, reflecting a growth of 105%. However, between 2012 and 2017, the value decreased to Rs 3,015 per sq.ft, which was a drop of 33%. The guideline value then increased to Rs 4,500 per sq.ft in 2023, a rise of 49%, and finally reached Rs 4,950 per sq.ft in the 2024 revision, showing a 10% increase.

The register does not have a figure for Tansi Nagar 12th Street for the year 2003. Overall, from 2002 to 2024, the guideline value has increased by 1,119%.

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 value for these streets is Rs 4,400 per sq.ft, placing Tansi Nagar 12th Street's 2024 figure above that median.

• Tansi Nagar 11th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 10th 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)
• Tansi Nagar 100Feet Road: Rs 13,200 per sq.ft (2024)
• Tansi Nagar 15th Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Tansi Nagar 12th 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, resulting in a total of Rs 4,45,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Tansi Nagar 12th Street?

The Sub Registrar Office that covers Tansi Nagar 12th 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 an essential factor when registering 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 the appropriate stamp duty and registration fees based on this value.

When you buy or sell 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 that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Tansi Nagar 12th Street?

The current guideline value of Tansi Nagar 12th 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 seen several changes, starting from Rs 406 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, which is an overall increase of 1,119%.

What is the land classification for Tansi Nagar 12th Street?

Tansi Nagar 12th Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the registration office for Tansi Nagar 12th Street?

The Velacheri Sub Registrar Office covers Tansi Nagar 12th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Tansi Nagar 12th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 49,50,000, the stamp duty at 7% would be Rs 3,46,500.