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Guideline Value

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Guideline Value for VGP Shathi Street, 1st Cross, Dr. Seethapathy Nagar East

₹4400/sq.ft.

The guideline value for Vgp Shathi Street, 1st Cross, Dr. Seethapathy Nagar East in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. 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 N/A
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
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 Shathi Street, 1st Cross, Dr. Seethapathy Nagar East

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VGP Shathi Street, 1st Cross, Dr. Seethapathy Nagar East guideline value

The current guideline value for VGP Shathi Street, 1st Cross, Dr. Seethapathy Nagar East is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and has a land classification of Residential Class II Type - II.

How the guideline value of VGP Shathi Street, 1st Cross, Dr. Seethapathy Nagar East has changed

In the 2017 revision, the guideline value was Rs 2,680 per sq.ft. The current 2024 revision shows a significant increase to Rs 4,400 per sq.ft, marking a change of +64% over the seven-year period. The register has no figure for the years 2023, 2012, 2007, 2003, and 2002 for this street.

The increase from Rs 2,680 in 2017 to Rs 4,400 in 2024 reflects the adjustments made in the guideline values over time. The absence of figures in the intervening years indicates that the guideline value remained unrecorded for VGP Shathi Street, 1st Cross, Dr. Seethapathy Nagar East during those periods.

Guideline values in Velachery

In Velachery, there are a total of 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 guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value for VGP Shathi Street, 1st Cross, Dr. Seethapathy Nagar East.

Stamp duty and registration fee for property in VGP Shathi Street, 1st Cross, Dr. Seethapathy Nagar East

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 to Rs 3,96,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers VGP Shathi Street, 1st Cross, Dr. Seethapathy Nagar East?

The VGP Shathi Street, 1st Cross, Dr. Seethapathy Nagar East falls under the jurisdiction of 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 of property transactions 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 buying or selling property, the guideline value is referenced to calculate the applicable duties and fees. Buyers should be aware that the final costs may vary depending on the sale price and the guideline value, with the higher amount being used for duty calculations.

Frequently asked questions

What is the current guideline value of VGP Shathi Street, 1st Cross, Dr. Seethapathy Nagar East?

The current guideline value for VGP Shathi Street, 1st Cross, Dr. Seethapathy Nagar East is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 2,680 per sq.ft to Rs 4,400 per sq.ft, which is a change of +64%.

What is the land classification for VGP Shathi Street?

The land classification for VGP Shathi Street, 1st Cross, Dr. Seethapathy Nagar East is Residential Class II Type - II.

Where can I find the registration office for VGP Shathi Street?

The Velacheri Sub Registrar Office, which covers VGP Shathi Street, 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. The current rate is 7% for stamp duty and 2% for the registration fee.