Guideline Value for Tansi Nagar 9th Street

Tansi Nagar 9th Street guideline value

The current guideline value of Tansi Nagar 9th Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Tansi Nagar 9th Street has changed

The guideline value for Tansi Nagar 9th Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 406 per sq.ft. This increased to Rs 455 per sq.ft in 2003, marking a rise of 12%. In 2007, the value jumped significantly to Rs 2,200 per sq.ft, reflecting a 384% increase. The 2012 revision saw the value at Rs 4,500 per sq.ft, which was a 105% increase from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 3,015 per sq.ft, which is a decline of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, a 49% increase. The most recent revision in 2024 set the guideline value at Rs 4,950 per sq.ft, representing a 10% increase from the previous year. There are no figures available for the years not mentioned in this register for Tansi Nagar 9th Street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, 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 9th Street's 2024 figure above this median.

• Tansi Nagar 8th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar Church Gate Avenue: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 7th Street (Velachery Taramani Road): Rs 4,950 per sq.ft (2024)
• Tansi Nagar Doss Avenue: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 7th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar Extn.: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Tansi Nagar 9th 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 cost for these fees to Rs 4,45,500. Please note that the 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 9th Street?

The Sub Registrar Office that covers Tansi Nagar 9th 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 further assistance.

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

The guideline value is an essential factor during the registration of property transactions in Velachery. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This value must be adhered to, as it plays a crucial role in the legal documentation and transfer of ownership.

Frequently asked questions

What is the current guideline value of Tansi Nagar 9th Street?

The current guideline value of Tansi Nagar 9th 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 from Rs 406 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, showing a significant overall increase of 1119% across the years.

What is the land classification for Tansi Nagar 9th Street?

Tansi Nagar 9th Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Tansi Nagar 9th Street?

For a property valued at 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 9th Street?

The Velacheri Sub Registrar Office covers Tansi Nagar 9th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.