Guideline Value

Corporate

Guideline Value for VELACHERY MAIN ROAD 4TH CROSS STREET

₹4950/sq.ft.

The guideline value for Velachery Main Road 4th Cross Street in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 4950 per sq.ft, effective 1 July 2024. It was Rs 4500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Commercial Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹4950 /sq.ft.
From 1-4-2023 ₹4500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3015 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Velachery Main Road 4th Cross Street

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Velachery Main Road 4th Cross Street guideline value

The current guideline value for Velachery Main Road 4th Cross Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Velachery Main Road 4th Cross Street has changed

The guideline value for Velachery Main Road 4th Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 3,015 per sq.ft. The 2023 revision increased the value to Rs 4,500 per sq.ft, and the latest 2024 revision has raised it to Rs 4,950 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for this street in the revisions from 2002, 2003, and 2007.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, indicating that Velachery Main Road 4th Cross Street's 2024 value is above the median.

Stamp duty and registration fee for property in Velachery Main Road 4th Cross 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. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Velachery Main Road 4th Cross Street?

The Sub Registrar Office that covers Velachery Main Road 4th Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Medavakkam, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registry.

The guideline value is set by the Registration Department and reflects the prevailing market conditions for different areas. Buyers and sellers must be aware of these values to ensure compliance with legal requirements and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value for Velachery Main Road 4th Cross Street?

The current guideline value for Velachery Main Road 4th Cross 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 4,500 per sq.ft in 2023 to Rs 4,950 per sq.ft in 2024, representing a 10% increase. The value was Rs 3,015 per sq.ft in 2017 and Rs 4,500 per sq.ft in 2012, showing fluctuations over the years.

What is the land classification for Velachery Main Road 4th Cross Street?

The land classification for Velachery Main Road 4th Cross Street is Commercial Special Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Velachery Main Road 4th Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded accurately and complies with legal requirements.