Guideline Value

Corporate

Guideline Value for VGP Seethapathy (DR)Nagar Extn.,

₹4400/sq.ft.

The guideline value for Vgp Seethapathy (dr)nagar Extn., 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 Extn.,

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VGP Seethapathy (DR)Nagar Extn., guideline value

The current guideline value for VGP Seethapathy (DR)Nagar Extn. is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Velachery village and falls under the Velacheri SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of VGP Seethapathy (DR)Nagar Extn., has changed

In the 2012 revision, the guideline value was set at Rs 4,000 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded a value of 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. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The changes in the guideline value reflect adjustments made by the authorities to align with the current market conditions.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value for VGP Seethapathy (DR)Nagar Extn.

Stamp duty and registration fee for property in VGP Seethapathy (DR)Nagar Extn.,

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 fees 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 details.

Which Sub Registrar Office covers VGP Seethapathy (DR)Nagar Extn.,?

The Velacheri Sub Registrar Office covers VGP Seethapathy (DR)Nagar Extn. The office is 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 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, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty. This process helps maintain transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value for VGP Seethapathy (DR)Nagar Extn.?

The current guideline value for VGP Seethapathy (DR)Nagar Extn. 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 per sq.ft in 2023, and then increased to Rs 4,400 per sq.ft in 2024. Overall, there has been a 10% increase from 2012 to 2024.

Which Sub Registrar Office should I visit for property transactions in this area?

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

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000. The duty is calculated based on the higher of the guideline value or the sale price.

Are there other streets in Velachery with the same guideline value?

Yes, several other streets in Velachery have the same guideline value of Rs 4,400 per sq.ft for 2024, including VGP Seethapathy (DR) Nagar 2nd Main Road, VGP Seethapathy (DR) Nagar Main Road, and others.