Guideline Value for Veeravanchi Nathan Street

Veeravanchi Nathan Street guideline value

The current guideline value of Veeravanchi Nathan Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Veeravanchi Nathan Street has changed

The guideline value for Veeravanchi Nathan Street has undergone several revisions over the years. The earliest recorded revision is from 2017, which set the value at Rs 2,345 per sq.ft. The most recent revision in 2024 increased the value to Rs 3,850 per sq.ft, marking a significant increase of 64% from the 2017 figure.

There are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for this street. Therefore, the only figures available are from the 2017 and 2024 revisions.

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, with a median value of Rs 4,400 per sq.ft. The guideline value of Veeravanchi Nathan Street is below this median.

• Velacheri 100ft Road: Rs 13,200 per sq.ft (2024)
• Velacheri Main Road, Dr. Ambedkar Nagar: Rs 13,200 per sq.ft (2024)
• Velacheri Main Road, Nagendira Nagar: Rs 13,200 per sq.ft (2024)
• Velacheri Tambaram Road, Dr Seetharam Nagar: Rs 13,200 per sq.ft (2024)
• Velacheri Taramani Link Road/Varadharajapuram: Rs 13,200 per sq.ft (2024)
• Velachery Main Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Veeravanchi Nathan 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 at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, leading to a total of 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 Veeravanchi Nathan Street?

The Sub Registrar Office covering Veeravanchi Nathan 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 a crucial factor in the registration process of property transactions in Velachery. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Veeravanchi Nathan Street?

The current guideline value of Veeravanchi Nathan Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024, which is a 64% increase.

What are the other guideline values in Velachery?

In Velachery, guideline values range from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Veeravanchi Nathan Street's value is below this median.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the same value.

Where is the Sub Registrar Office for Veeravanchi Nathan Street?

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