Explore LandLens: verify, value, build-check, track & transact smarter

Guideline Value

Corporate

Guideline Value for Velan Nagar 1st Cross Street

₹3850/sq.ft.

The guideline value for Velan Nagar 1st Cross Street in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Valasaravakkam

Village

Virugambakkam

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹750 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹399 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹367 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[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 Velan Nagar 1st Cross Street

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Velan Nagar 1st Cross Street guideline value

The current guideline value of Velan Nagar 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

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

The guideline value for Velan Nagar 1st Cross Street has undergone several revisions over the years. Starting from Rs 367 per sq.ft in 2002, it increased to Rs 399 per sq.ft in 2003, marking a 9% rise. The value further increased significantly to Rs 750 per sq.ft in 2007, reflecting an 88% growth. In 2012, the value reached Rs 3,500 per sq.ft, a substantial 367% increase from the previous revision. However, it then saw a decline to Rs 2,345 per sq.ft in 2017, which was a decrease of 33%.

From 2017 to the latest revision in 2024, the guideline value surged to Rs 3,850 per sq.ft, marking a notable increase of 64%. Overall, from 2002 to 2024, the guideline value has increased by 949%. The register has no figure for this street in 2023.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,850 per sq.ft, which is equal to the current value of Velan Nagar 1st Cross Street.

Stamp duty and registration fee for property in Velan Nagar 1st 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 at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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

The Sub Registrar Office that covers Velan Nagar 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Valasaravakkam

The guideline value is a crucial factor when registering property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in real estate transactions.

When buying or selling property, the guideline value impacts the stamp duty and registration fees payable. Buyers should be aware that these costs are calculated based on the higher of the guideline value or the actual sale price, which ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Velan Nagar 1st 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 changed significantly from Rs 367 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 949% over this period.

What was the guideline value in 2017?

In 2017, the guideline value for Velan Nagar 1st Cross Street was Rs 2,345 per sq.ft, which was a decrease of 33% from the previous value in 2012.

Which Sub Registrar Office is responsible for Velan Nagar 1st Cross Street?

The Virugambakkam Sub Registrar Office is responsible for Velan Nagar 1st Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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

The stamp duty for properties in Velan Nagar 1st Cross Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% based on the guideline value.