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Guideline Value

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Guideline Value for VGP Seethapathy (DR) Nagar Shanthi Lane

₹4400/sq.ft.

The guideline value for Vgp Seethapathy (dr) Nagar Shanthi Lane 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 N/A
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 Shanthi Lane

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VGP Seethapathy (DR) Nagar Shanthi Lane guideline value

The current guideline value for VGP Seethapathy (DR) Nagar Shanthi Lane 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 Seethapathy (DR) Nagar Shanthi Lane has changed

The guideline value for VGP Seethapathy (DR) Nagar Shanthi Lane has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 4,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. There are no figures available for the years 2002, 2003, 2007, and 2017 for this street, indicating that the guideline value was not revised during those years.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have 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, which is equal to the current value of VGP Seethapathy (DR) Nagar Shanthi Lane.

Stamp duty and registration fee for property in VGP Seethapathy (DR) Nagar Shanthi Lane

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 cost 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers VGP Seethapathy (DR) Nagar Shanthi Lane?

The VGP Seethapathy (DR) Nagar Shanthi Lane 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 in property transactions in Velachery. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers and sellers must refer to the current guideline value to ensure that they comply with the legal requirements during registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of VGP Seethapathy (DR) Nagar Shanthi Lane?

The current guideline value of VGP Seethapathy (DR) Nagar Shanthi Lane 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 4,400 per sq.ft in 2024, reflecting a 10% increase. There were no revisions recorded for the years 2002, 2003, 2007, and 2017 for this street.

What is the land classification for VGP Seethapathy (DR) Nagar Shanthi Lane?

The land classification for VGP Seethapathy (DR) Nagar Shanthi Lane is Residential Class II Type - II. This classification indicates the type of development permitted in the area.

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. This office handles the registration of properties in the area.

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 would be calculated on that amount unless the sale price is higher.