Guideline Value for Tansi Nagar Doss Avenue

Tansi Nagar Doss Avenue guideline value

The current guideline value of Tansi Nagar Doss Avenue 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 Doss Avenue has changed

The guideline value for Tansi Nagar Doss Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft, which was then reduced to Rs 3,015 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 4,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 4,950 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it saw a significant increase of 49%. Overall, from the 2012 revision to the current 2024 figure, there has been a 10% increase. The register does not have figures for the years 2002, 2003, and 2007 for this 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 value for these streets is Rs 4,400 per sq.ft, placing Tansi Nagar Doss Avenue's current value above this median.

• Tansi Nagar Church Gate Avenue: Rs 4,950 per sq.ft (2024)
• Tansi Nagar Extn.: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 9th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar Extn Balamurugan Nagar: Rs 4,950 per sq.ft (2024)
• Tansi Nagar 8th Street: Rs 4,950 per sq.ft (2024)
• Tansi Nagar Film Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Tansi Nagar Doss Avenue

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 be 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. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Tansi Nagar Doss Avenue?

The Sub Registrar Office that covers Tansi Nagar Doss Avenue 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 plays a crucial role during property transactions in Velachery. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the transaction reflects the current guideline value to avoid any discrepancies. This helps in maintaining transparency and compliance with the local regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Tansi Nagar Doss Avenue?

The current guideline value of Tansi Nagar Doss Avenue 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 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then to Rs 4,500 per sq.ft in 2023, and finally to Rs 4,950 per sq.ft in 2024. The most significant change was a 49% increase from 2017 to 2023.

What is the land classification for Tansi Nagar Doss Avenue?

The land classification for Tansi Nagar Doss Avenue is Residential Class II Type - I.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Tansi Nagar Doss Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a stamp duty of Rs 3,46,500.