Guideline Value for Tansi Nagar 19th Street

Tansi Nagar 19th Street guideline value

The current guideline value of Tansi Nagar 19th 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. The land classification for this area is Residential Class II Type - I.

How the guideline value of Tansi Nagar 19th Street has changed

The guideline value for Tansi Nagar 19th Street has seen significant changes over the years. In 2002, the guideline value was Rs 406 per sq.ft. This 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 a 384% increase from the previous revision. However, there are no figures available for the years 2012 and 2017.

From 2007 to 2023, the guideline value further increased to Rs 4,500 per sq.ft, which is a substantial rise of 105%. The most recent revision in 2024 set the guideline value at Rs 4,950 per sq.ft, representing a 10% increase from the 2023 figure. 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, with guideline values 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, placing Tansi Nagar 19th Street's 2024 figure above that median.

• Tansi Nagar 18th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 1st Main Road: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 17th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 1st Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 16th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 20th Extn.: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Tansi Nagar 19th 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. Please note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Tansi Nagar 19th Street?

The Sub Registrar Office that covers Tansi Nagar 19th 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 critical factor in property transactions in Velachery. It is used to determine the stamp duty and registration fees during the buying or selling process. Buyers and sellers must be aware of the current guideline value to ensure they comply with legal requirements during registration.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Tansi Nagar 19th Street?

The current guideline value of Tansi Nagar 19th 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, 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 and registration fees for property in Tansi Nagar 19th Street?

For a 1,000 sq.ft plot, the total guideline value is 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.

Which Sub Registrar Office covers Tansi Nagar 19th Street?

The Velacheri Sub Registrar Office covers Tansi Nagar 19th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Tansi Nagar 19th Street?

The land classification for Tansi Nagar 19th Street is Residential Class II Type - I, indicating its suitability for residential development.