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Guideline Value

Corporate

Guideline Value for Velacheri Main Road, Nagendira Nagar,

₹13200/sq.ft.

The guideline value for Velacheri Main Road, Nagendira Nagar, in Velachery village (Velacheri SRO, Chennai zone) is Rs 13200 per sq.ft, effective 1 July 2024. It was Rs 12000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹13200 /sq.ft.
From 1-4-2023 ₹12000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹8040 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹12000 /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 Velacheri Main Road, Nagendira Nagar,

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Velacheri Main Road, Nagendira Nagar, guideline value

The current guideline value of Velacheri Main Road, Nagendira Nagar, is Rs 13,200 per sq.ft, effective from 1 July 2024. This property falls under the Velachery village and is classified as Commercial Class I Type - I. The relevant registration office is the Velacheri SRO.

How the guideline value of Velacheri Main Road, Nagendira Nagar, has changed

The guideline value for Velacheri Main Road has undergone several revisions over the years. The earliest recorded value is from 2012 at Rs 12,000 per sq.ft, which then decreased to Rs 8,040 per sq.ft in 2017. The value increased significantly by 49% to Rs 12,000 per sq.ft in 2023, and then saw a further increase of 10% to the current value of Rs 13,200 per sq.ft in 2024. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The changes between the revisions are notable, with a decrease from 2012 to 2017, followed by substantial increases in the subsequent years.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with a 2024 guideline value range 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, placing Velacheri Main Road, Nagendira Nagar, above this median.

Stamp duty and registration fee for property in Velacheri Main Road, Nagendira Nagar,

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total to Rs 11,88,000. Stamp 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 Velacheri Main Road, Nagendira Nagar,?

The Velacheri Main Road, Nagendira Nagar, is covered by 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 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 transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Velacheri Main Road, Nagendira Nagar?

The current guideline value is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 12,000 per sq.ft in 2012, decreasing to Rs 8,040 per sq.ft in 2017, then increasing to Rs 12,000 per sq.ft in 2023, and finally reaching Rs 13,200 per sq.ft in 2024.

What is the land classification for Velacheri Main Road?

Velacheri Main Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the registration office for Velacheri Main Road?

The registration office for Velacheri Main Road 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 Velachery?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,32,00,000, the stamp duty would be calculated at 7% of this amount.