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Guideline Value

Corporate

Guideline Value for Vaineshwari Nagar 1st Cross Street

₹4400/sq.ft.

The guideline value for Vaineshwari Nagar 1st Cross 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 ₹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 ₹141 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹125 /sq.ft.
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 Vaineshwari Nagar 1st Cross Street

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Vaineshwari Nagar 1st Cross Street guideline value

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

How the guideline value of Vaineshwari Nagar 1st Cross Street has changed

The guideline value for Vaineshwari Nagar 1st Cross Street has undergone several revisions over the years. In 2002, the guideline value was Rs 125 per sq.ft, which increased to Rs 141 per sq.ft in 2003, marking a change of +13%. The value saw a significant rise to Rs 4,000 per sq.ft in 2012, resulting in an increase of +2737%. However, it then decreased to Rs 2,680 per sq.ft in 2017, a drop of -33%. The next revision in 2023 brought the value back up to Rs 4,000 per sq.ft, followed by the current rate of Rs 4,400 per sq.ft in 2024, reflecting a change of +10%.

It is important to note that there is no figure available for Vaineshwari Nagar 1st Cross Street in the 2007 revision. Overall, from 2002 to 2024, the guideline value has increased by +3420%.

Guideline values in Velachery

In Velachery, there are 2691 streets under the Velacheri SRO, with 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 aligns with the current value of Vaineshwari Nagar 1st Cross Street.

Stamp duty and registration fee for property in Vaineshwari Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost would be Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vaineshwari Nagar 1st Cross Street?

The Sub Registrar Office covering Vaineshwari Nagar 1st Cross Street is 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 applicable during the sale or purchase of property. Buyers and sellers must consider the guideline value as it influences the overall cost of property transactions.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's worth.

Frequently asked questions

What is the current guideline value of Vaineshwari Nagar 1st Cross Street?

The current guideline value of Vaineshwari Nagar 1st Cross 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 significantly from Rs 125 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +3420% over the years.

What is the registration office for Vaineshwari Nagar 1st Cross Street?

The registration office for Vaineshwari Nagar 1st Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Vaineshwari Nagar 1st Cross Street?

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

What are the guideline values of other streets in Velachery?

Other streets in Velachery have varying guideline values, with Vaineshwari Nagar and its 2nd and 3rd Cross Streets all valued at Rs 3,850 per sq.ft in 2024, while several other streets also share this rate.