Guideline Value

Corporate

Guideline Value for Velan Nagar 3rd Street

₹3850/sq.ft.

The guideline value for Velan Nagar 3rd 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 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. 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 Street

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Velan Nagar 3rd Street guideline value

The current guideline value of Velan Nagar 3rd 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 3rd Street has changed

The guideline value for Velan Nagar 3rd Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 3,500 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 2,345 per sq.ft. Following this, the guideline value increased significantly to Rs 3,500 per sq.ft in 2023, and then to Rs 3,850 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the value dropped by 33%, while from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, there has been a net increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are a total of 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, making the 2024 figure for Velan Nagar 3rd Street equal to this median.

Stamp duty and registration fee for property in Velan Nagar 3rd 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 to Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Velan Nagar 3rd Street?

The Sub Registrar Office that covers Velan Nagar 3rd 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 in property transactions in Valasaravakkam. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When registering a property, the guideline value serves as a benchmark for the minimum value on which stamp duty is calculated. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

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

The current guideline value of Velan Nagar 3rd 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 from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 in 2023, and finally to Rs 3,850 in 2024.

What are the other streets in Valasaravakkam with the same guideline value?

Several other streets in Valasaravakkam have the same guideline value of Rs 3,850 per sq.ft in 2024, including Velan Nagar 3rd Cross Street, Velan Nagar 4th Cross Street, and others.

What is the registration fee for property in Velan Nagar 3rd Street?

The registration fee for property in Velan Nagar 3rd Street is calculated based on the guideline value. For a 1,000 sq.ft plot, the registration fee would be Rs 77,000 at a rate of 2%.

Where can I find the Sub Registrar Office for Velan Nagar 3rd Street?

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