Guideline Value for Tansi Nagar 7th Street

Tansi Nagar 7th Street guideline value

The current guideline value for Tansi Nagar 7th Street in Velachery village, under the Velacheri SRO, is Rs 4,950 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Tansi Nagar 7th Street has changed

The guideline value for Tansi Nagar 7th Street has seen several revisions over the years. In 2002, the guideline value was Rs 736 per sq.ft. It increased to Rs 825 per sq.ft in 2003, marking a rise of 12%. The value then surged significantly to Rs 2,200 per sq.ft in 2007, reflecting a 167% increase. Following this, the value rose to Rs 4,500 per sq.ft in 2012, which was an increase of 105%. However, it dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 4,500 per sq.ft in 2023, before reaching the current figure of Rs 4,950 per sq.ft in 2024, a rise of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 573%. There are no figures available for the revisions in years not listed for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, placing Tansi Nagar 7th Street's current value above this median.

• Tansi Nagar 7th Main Road: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 7th Street (Velachery Taramani Road): Rs 4,950 per sq.ft (2024)
• Tansi Nagar 6th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 8th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 6th Main Road: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 9th Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Tansi Nagar 7th 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 be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. It is important to 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 7th Street?

The Tansi Nagar 7th Street falls under 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 component when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration fees and stamp duties are calculated accordingly.

When buying or selling property, it is essential to be aware of the current guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any issues during the registration process.

Frequently asked questions

What is the current guideline value of Tansi Nagar 7th Street?

The current guideline value of Tansi Nagar 7th 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 736 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 573% over the years.

What is the land classification of Tansi Nagar 7th Street?

Tansi Nagar 7th Street is classified as Residential Class II Type - I, indicating its designation for residential use.

Where can I find the registration office for Tansi Nagar 7th Street?

The registration office for Tansi Nagar 7th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Tansi Nagar 7th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500.