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Guideline Value

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Guideline Value for Velan Nagar 3rd Cross Street

₹3850/sq.ft.

The guideline value for Velan Nagar 3rd Cross Street in Valasaravakkam village (Virugambakkam 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 - 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 ₹3500 /sq.ft.
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 3rd Cross Street

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Velan Nagar 3rd Cross Street guideline value

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

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

The guideline value for Velan Nagar 3rd Cross Street has undergone several revisions over the years. In 2002, the value was Rs 367 per sq.ft, which increased to Rs 399 per sq.ft in 2003. The value saw a significant rise to Rs 750 per sq.ft in 2007, followed by a further increase to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The 2023 revision marked an increase to Rs 3,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,850 per sq.ft. There are no figures available for the revisions in years not mentioned.

Between the revisions, notable changes include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 367% increase from 2007 to 2012, an 88% increase from 2003 to 2007, and a 9% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 949%.

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 value is Rs 3,850 per sq.ft, which is the same as the current guideline value for Velan Nagar 3rd Cross Street.

Stamp duty and registration fee for property in Velan 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 would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost together to 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 Velan Nagar 3rd Cross Street?

The Velan Nagar 3rd Cross Street is covered by 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 during the registration process when buying or selling property. It helps determine the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When a property is sold, the guideline value is used as a basis for calculating the applicable charges. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can affect the total financial outlay during the transaction.

Frequently asked questions

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

The current guideline value of Velan 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 seen several changes, from Rs 367 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 949% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office handles registrations for Velan Nagar 3rd Cross Street?

The Virugambakkam Sub Registrar Office handles registrations for Velan Nagar 3rd Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Velan Nagar 3rd Cross Street?

The land classification for Velan Nagar 3rd Cross Street is Residential Class II Type - I, indicating its designated use for residential purposes.