Guideline Value for Tansi Nagar 16th Street

Tansi Nagar 16th Street guideline value

The current guideline value of Tansi Nagar 16th 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 16th Street has changed

The guideline value for Tansi Nagar 16th Street has seen several revisions over the years. In 2002, the value was Rs 406 per sq.ft, which increased to Rs 455 per sq.ft in 2003. Following this, the value experienced a significant rise to Rs 2,200 per sq.ft in 2007, and then to Rs 4,500 per sq.ft in 2012. However, it dropped to Rs 3,015 per sq.ft in 2017 before climbing to Rs 4,500 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 4,950 per sq.ft.

Analyzing the changes between revisions, from 2017 to 2023, there was an increase of 49%. The transition from 2012 to 2017 saw a decrease of 33%. The value rose by 105% from 2007 to 2012, and a substantial increase of 384% occurred from 2003 to 2007. The change from 2002 to 2003 was a modest 12%. Overall, from 2002 to 2024, the guideline value has increased by 1119%.

Guideline values in Velachery

In Velachery village, 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, making Tansi Nagar 16th Street's 2024 figure above that median.

• Tansi Nagar 15th Street (Velachery Taramani Road): Rs 4,950 per sq.ft (2024)
• Tansi Nagar 17th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 15th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 18th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 14th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 19th Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Tansi Nagar 16th 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, making the total cost for these charges 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tansi Nagar 16th Street?

Tansi Nagar 16th Street falls under the jurisdiction of 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 plays a crucial role during property transactions in Velachery. It is used to determine the stamp duty and registration fees that must be paid when a property is sold or purchased. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the registration process is aligned with the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Tansi Nagar 16th Street?

The current guideline value of Tansi Nagar 16th 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, reflecting an overall increase of 1119% over the years.

What is the land classification for Tansi Nagar 16th Street?

Tansi Nagar 16th Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at 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.

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.