Guideline Value for Tansi Nagar 17th Street

Tansi Nagar 17th Street guideline value

The current guideline value of Tansi Nagar 17th Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Tansi Nagar 17th Street has changed

The guideline value for Tansi Nagar 17th Street has seen significant changes over the years. The 2002 revision recorded a guideline value of Rs 406 per sq.ft, which increased to Rs 455 per sq.ft in 2003, marking a change of +12%. By 2007, the value rose dramatically to Rs 2,200 per sq.ft, reflecting an increase of +384%. The value continued to rise, reaching Rs 4,500 per sq.ft in the 2023 revision, which was a +105% change from 2007. The most recent revision in 2024 set the guideline value at Rs 4,950 per sq.ft, an increase of +10% from the previous year.

It is important to note that there are no figures available for the years 2012 and 2017 for Tansi Nagar 17th Street. Overall, from 2002 to 2024, the guideline value has increased by +1119%.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO, with the 2024 guideline values 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 17th Street's 2024 figure above this median.

• Tansi Nagar 16th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 18th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 15th Street (Velachery Taramani Road): Rs 4,950 per sq.ft (2024)
• Tansi Nagar 19th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 15th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 1st Main Road: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Tansi Nagar 17th 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 amount 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 cost for these fees 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Tansi Nagar 17th Street?

The Sub Registrar Office that covers Tansi Nagar 17th 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 during the registration of 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 appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Tansi Nagar 17th Street?

The current guideline value of Tansi Nagar 17th 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 increased significantly from Rs 406 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall change of +1119% over the years.

What are the stamp duty and registration fees for properties in Tansi Nagar 17th Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 4,45,500.

Which office handles registrations for Tansi Nagar 17th Street?

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

What is the land classification for Tansi Nagar 17th Street?

Tansi Nagar 17th Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.