Guideline Value for Tansi Nagar 1st Main Road

Tansi Nagar 1st Main Road guideline value

The current guideline value of Tansi Nagar 1st Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024. This road 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 1st Main Road has changed

The guideline value for Tansi Nagar 1st Main Road has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 4,950 per sq.ft, which is a 10% increase from the 2023 revision of Rs 4,500 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the guideline value for Tansi Nagar 1st Main Road was not recorded in the register. The 2024 figure is notable as it is above the median guideline value of Rs 4,400 per sq.ft for the 2,691 streets in Velachery under the Velacheri SRO.

Guideline values in Velachery

In Velachery, the guideline values vary widely, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Tansi Nagar 1st Main Road's 2024 figure above this median.

• Tansi Nagar 19th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 1st Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 18th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 20th Extn.: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 17th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 20th Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Tansi Nagar 1st Main Road

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 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 1st Main Road?

The Sub Registrar Office that covers Tansi Nagar 1st Main Road 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 crucial factor in property transactions in Velachery. It is used to determine the stamp duty and registration fees payable when buying or selling property. The amount payable is based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Tansi Nagar 1st Main Road?

The current guideline value of Tansi Nagar 1st Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

The guideline value increased from Rs 4,500 per sq.ft in 2023 to Rs 4,950 per sq.ft in 2024, marking a 10% increase.

What are the registration fees for property in Tansi Nagar 1st Main Road?

The registration fees for a property are calculated based on the guideline value, with a stamp duty of 7% and a registration fee of 2% applicable.

Which office handles registrations for Tansi Nagar 1st Main Road?

The Velacheri Sub Registrar Office handles registrations for Tansi Nagar 1st Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Tansi Nagar 1st Main Road?

The land classification for Tansi Nagar 1st Main Road is Residential Class II Type - I.