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Guideline Value

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Guideline Value for VGP Seethapathy (DR) Nagar Shanthi Street

₹4400/sq.ft.

The guideline value for Vgp Seethapathy (dr) Nagar Shanthi 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 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 Street

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VGP Seethapathy (DR) Nagar Shanthi Street guideline value

The current guideline value for VGP Seethapathy (DR) Nagar Shanthi 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, classified as Residential Class II Type - II.

How the guideline value of VGP Seethapathy (DR) Nagar Shanthi Street has changed

The guideline value for VGP Seethapathy (DR) Nagar Shanthi Street has seen several revisions over the years. In the 2012 revision, the value was Rs 4,000 per sq.ft. This figure remained unchanged in the 2023 revision, which also listed the value at Rs 4,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 4,400 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with the 2024 guideline values 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 for VGP Seethapathy (DR) Nagar Shanthi Street.

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

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, charged at 7%, would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that the 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 accurate calculations.

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

The VGP Seethapathy (DR) Nagar Shanthi Street 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, as it is used to determine the stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements and accurate fee calculations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate applicable duties. This ensures that the government receives the appropriate revenue based on the property's assessed value or the actual selling price.

Frequently asked questions

What is the current guideline value for VGP Seethapathy (DR) Nagar Shanthi Street?

The current guideline value for VGP Seethapathy (DR) Nagar Shanthi 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 4,000 per sq.ft in 2012 to Rs 4,000 in 2023, and then increased to Rs 4,400 in 2024, marking a 10% increase from the previous year.

What is the land classification for this street?

VGP Seethapathy (DR) Nagar Shanthi Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 3,96,000.

Which office handles registrations for this street?

The Velacheri Sub Registrar Office handles registrations for VGP Seethapathy (DR) Nagar Shanthi Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.