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Guideline Value

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Guideline Value for VGP Seethapathy (DR) Nagar 2nd Main Road

₹4400/sq.ft.

The guideline value for Vgp Seethapathy (dr) Nagar 2nd Main Road 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 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)

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 Seethapathy (dr) Nagar 2nd Main Road

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VGP Seethapathy (DR) Nagar 2nd Main Road guideline value

The current guideline value for VGP Seethapathy (DR) Nagar 2nd Main Road is Rs 4,400 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 - II.

How the guideline value of VGP Seethapathy (DR) Nagar 2nd Main Road has changed

In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. This was followed by a decrease in 2017 to Rs 2,680 per sq.ft, representing a decline of 33%. The value then increased significantly to Rs 4,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 shows a further increase to Rs 4,400 per sq.ft, which is a 10% rise from the previous year.

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

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 is Rs 4,400 per sq.ft, which is the same as the guideline value for VGP Seethapathy (DR) Nagar 2nd Main Road.

Stamp duty and registration fee for property in VGP Seethapathy (DR) Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to 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 charges to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers VGP Seethapathy (DR) Nagar 2nd Main Road?

The VGP Seethapathy (DR) Nagar 2nd Main Road is covered by 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Velachery. It is used to determine the stamp duty and registration fees that buyers must pay when completing a property transaction.

When registering a property, the guideline value is considered the minimum value for taxation purposes. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for VGP Seethapathy (DR) Nagar 2nd Main Road?

The current guideline value for VGP Seethapathy (DR) Nagar 2nd Main Road 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 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for this area?

The land classification for VGP Seethapathy (DR) Nagar 2nd Main Road is Residential Class II Type - II.

Where can I find the Velacheri Sub Registrar Office?

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 Velachery?

Stamp duty for properties in Velachery is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.