Guideline Value for Tansi Nagar 13th Street

Tansi Nagar 13th Street guideline value

The current guideline value of Tansi Nagar 13th 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 13th Street has changed

The guideline value for Tansi Nagar 13th Street has seen several revisions over the years. In 2002, the guideline value was Rs 406 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2007. This was a remarkable increase of 442%. The value then rose to Rs 4,500 per sq.ft in 2012, reflecting a 105% increase from the previous revision. However, it decreased to Rs 3,015 per sq.ft in 2017, marking a decline of 33%.

In 2023, the guideline value was set at Rs 4,500 per sq.ft, which saw an increase of 49% from the 2017 figure. The most recent revision in 2024 brought the value to Rs 4,950 per sq.ft, representing a 10% increase from 2023. Notably, there is no figure available for the year 2003 in the register for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, placing Tansi Nagar 13th Street's 2024 figure above this median.

• Tansi Nagar 12th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 14th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 11th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 15th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 10th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 15th Street (Velachery Taramani Road): Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Tansi Nagar 13th Street

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

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

Which Sub Registrar Office covers Tansi Nagar 13th Street?

The Sub Registrar Office that covers Tansi Nagar 13th 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 details.

How the guideline value is used when you buy or sell in Velachery

The guideline value is a crucial factor in property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, ensuring that both parties are aware of the legal and financial implications of the transaction.

During the registration process, the guideline value is considered to ensure compliance with the regulations set by the Registration Department. This value is essential for both buyers and sellers as it helps in establishing a transparent and fair transaction process.

Frequently asked questions

What is the current guideline value of Tansi Nagar 13th Street?

The current guideline value of Tansi Nagar 13th 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 from Rs 406 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, showing an overall increase of 1119% over the years.

What is the stamp duty for property in Tansi Nagar 13th Street?

The stamp duty for property in Tansi Nagar 13th Street is 7% of the guideline value or the 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.

What is the land classification of Tansi Nagar 13th Street?

Tansi Nagar 13th Street is classified as Residential Class II Type - I, indicating its suitability for residential development.