Guideline Value for Tansi Nagar 14th Street

Tansi Nagar 14th Street guideline value

The current guideline value of Tansi Nagar 14th 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 14th Street has changed

The guideline value for Tansi Nagar 14th Street has undergone several revisions since 2002. The value started at Rs 406 per sq.ft in 2002, increased significantly to Rs 2,200 per sq.ft in 2007, then rose to Rs 4,500 per sq.ft in 2012. However, it decreased to Rs 3,015 per sq.ft in 2017, before reaching the current rate of Rs 4,950 per sq.ft in 2024. Notably, there are no figures available for the years 2003 and 2023.

From 2002 to 2024, the overall change in the guideline value is an increase of 1119%. The most significant jump occurred between 2002 and 2007, with a rise of 442%. Following that, the value increased by 105% from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017, before the current increase of 64% from 2017 to 2024.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a guideline value for 2024 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 14th Street's 2024 figure above that median.

• Tansi Nagar 13th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 15th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 12th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 15th Street (Velachery Taramani Road): Rs 4,950 per sq.ft (2024)
• Tansi Nagar 11th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 16th Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Tansi Nagar 14th 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 14th Street?

The Sub Registrar Office that covers Tansi Nagar 14th 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 when buying or selling property in Velachery, as it serves as a benchmark for determining the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Tansi Nagar 14th Street?

The current guideline value of Tansi Nagar 14th 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 significant changes, increasing from Rs 406 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, which is an overall increase of 1119%.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Tansi Nagar 14th Street is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Velachery?

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

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum price for property registration and is used to calculate applicable stamp duty and registration fees during transactions.