Guideline Value for Tansi Nagar 18th Street

Tansi Nagar 18th Street guideline value

The current guideline value of Tansi Nagar 18th Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. It is classified as Residential Class II Type - I land.

How the guideline value of Tansi Nagar 18th Street has changed

The guideline value for Tansi Nagar 18th Street has seen significant changes over the years. In 2002, the guideline value was Rs 406 per sq.ft, which increased to Rs 455 per sq.ft in 2003, marking a 12% rise. By 2007, it had jumped to Rs 2,200 per sq.ft, reflecting a staggering increase of 384%. The value continued to rise to Rs 4,500 per sq.ft in 2023, which is an increase of 105% from the 2007 figure. The current revision in 2024 has set the guideline value at Rs 4,950 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2012 and 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1119%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in the area is Rs 4,400 per sq.ft, placing Tansi Nagar 18th Street's 2024 value above this median.

• Tansi Nagar 17th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 19th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 16th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 1st Main Road: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 15th Street (Velachery Taramani Road): Rs 4,950 per sq.ft (2024)
• Tansi Nagar 1st Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Tansi Nagar 18th 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 cost 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 18th Street?

The Sub Registrar Office that covers Tansi Nagar 18th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property 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.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable fees. This value is essential for both parties to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Tansi Nagar 18th Street?

The current guideline value of Tansi Nagar 18th 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. Notable changes include a 384% increase from 2003 to 2007 and a 10% increase from 2023 to 2024.

What are the stamp duty and registration fees for property in Tansi Nagar 18th Street?

For a 1,000 sq.ft plot, the guideline value is Rs 49,50,000. The stamp duty at 7% is Rs 3,46,500, and the registration fee at 2% is Rs 99,000, totaling Rs 4,45,500.

Which Sub Registrar Office covers Tansi Nagar 18th Street?

The Sub Registrar Office that covers Tansi Nagar 18th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Tansi Nagar 18th Street?

Tansi Nagar 18th Street is classified as Residential Class II Type - I land, which indicates its suitability for residential purposes.