Guideline Value

Corporate

Guideline Value for VGP Rani Street

₹4400/sq.ft.

The guideline value for Vgp Rani Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹668 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹336 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[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 Vgp Rani Street

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

VGP Rani Street guideline value

The current guideline value of VGP Rani Street is Rs 4,400 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 - II.

How the guideline value of VGP Rani Street has changed

The guideline value for VGP Rani Street has seen several revisions over the years. In 2002, the guideline value was Rs 336 per sq.ft, which increased to Rs 668 per sq.ft in 2003, marking a change of +99%. The value further rose to Rs 1,800 per sq.ft in 2007, reflecting an increase of +169%. In 2012, the guideline value was Rs 4,000 per sq.ft, showing a significant jump of +122% from the previous revision. However, this value decreased to Rs 2,680 per sq.ft in 2017, a decline of -33%. The guideline value then increased to Rs 4,000 per sq.ft in 2023, followed by the current value of Rs 4,400 per sq.ft in 2024, which is a rise of +10%.

Overall, from 2002 to 2024, the guideline value for VGP Rani Street has increased by +1210%. The register has no figures for the years not mentioned in the revisions above.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a guideline value for 2024 ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current value of VGP Rani Street.

Stamp duty and registration fee for property in VGP Rani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers VGP Rani Street?

The Sub Registrar Office that covers VGP Rani 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 more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the transaction.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values for different areas.

Frequently asked questions

What is the current guideline value of VGP Rani Street?

The current guideline value of VGP Rani Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 336 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +1210% over the years.

What is the land classification for VGP Rani Street?

The land classification for VGP Rani Street is Residential Class II Type - II, which indicates its designation for residential use.

Where can I find the Sub Registrar Office for VGP Rani Street?

The Sub Registrar Office for VGP Rani 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 property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.