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Guideline Value

Corporate

Guideline Value for Vaineshwari Nagar 3rd Cross Street

₹3850/sq.ft.

The guideline value for Vaineshwari Nagar 3rd Cross Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /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 ₹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 3rd Cross Street

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Vaineshwari Nagar 3rd Cross Street guideline value

The current guideline value of Vaineshwari Nagar 3rd Cross Street is Rs 3,850 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 - III.

How the guideline value of Vaineshwari Nagar 3rd Cross Street has changed

The guideline value for Vaineshwari Nagar 3rd Cross Street has seen significant changes 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 then experienced a dramatic rise to Rs 2,345 per sq.ft in 2017, reflecting a staggering increase of +1563%. Following this, the value rose to Rs 3,500 per sq.ft in 2023, which was a +49% increase. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, showing a +10% increase from the previous year.

It is important to note that the register has no figures for the years 2007 and 2012 for this street. Overall, from 2002 to 2024, the guideline value has increased by +2980%.

Guideline values in Velachery

In Velachery, there are 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 in this area is Rs 4,400 per sq.ft, placing Vaineshwari Nagar 3rd Cross Street's 2024 figure below that median.

Stamp duty and registration fee for property in Vaineshwari Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty is charged at 7%, which is Rs 2,69,500, and the registration fee is 2%, amounting to Rs 77,000. Together, the total cost for these fees would be Rs 3,46,500. 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 Vaineshwari Nagar 3rd Cross Street?

The Sub Registrar Office that covers Vaineshwari Nagar 3rd 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 is an essential factor 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 transparency in property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vaineshwari Nagar 3rd Cross Street?

The current guideline value of Vaineshwari Nagar 3rd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 125 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of +2980% over the years.

What are the stamp duty and registration fees for property in Vaineshwari Nagar 3rd Cross Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,46,500.

Which office handles property registrations in Velachery?

The Velacheri Sub Registrar Office handles property registrations in Velachery, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value in Velachery?

The median guideline value in Velachery is Rs 4,400 per sq.ft, with Vaineshwari Nagar 3rd Cross Street's value being below this median at Rs 3,850 per sq.ft.