Guideline Value

Corporate

Guideline Value for Velan Nagar 5th Cross Street

₹3850/sq.ft.

The guideline value for Velan Nagar 5th 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 5th Cross Street

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Velan Nagar 5th Cross Street guideline value

The current guideline value of Velan Nagar 5th 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 5th Cross Street has changed

The guideline value for Velan Nagar 5th Cross Street has undergone several revisions over the years. The earliest record is from 2002, with a guideline value of Rs 367 per sq.ft. This figure increased to Rs 399 per sq.ft in 2003, marking a growth of 9%. In 2007, the value saw a significant rise to Rs 750 per sq.ft, representing an increase of 88%. The value then jumped to Rs 3,500 per sq.ft in 2012, which was a 367% increase. However, it decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%. The guideline value was revised to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,850 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 949%. The register has no figure for this street in the years not mentioned.

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, placing Velan Nagar 5th Cross Street at this median value for 2024.

Stamp duty and registration fee for property in Velan Nagar 5th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% is Rs 2,69,500, and the registration fee at 2% is Rs 77,000, totaling Rs 3,46,500. 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 information.

Which Sub Registrar Office covers Velan Nagar 5th Cross Street?

The Sub Registrar Office that covers Velan Nagar 5th 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 details.

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

The guideline value is an essential factor in property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling a property, the registration office will use this value to calculate the applicable stamp duty and registration fees.

It is important to note that the guideline value is not necessarily the sale price of the property. Buyers and sellers must be aware that the higher of the guideline value and the sale price will be used for calculating the stamp duty and registration fees during the registration process.

Frequently asked questions

What is the current guideline value of Velan Nagar 5th Cross Street?

The current guideline value of Velan Nagar 5th 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 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 is the land classification for Velan Nagar 5th Cross Street?

Velan Nagar 5th Cross Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in Velan Nagar 5th Cross Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees amount to Rs 3,46,500, based on the current guideline value.

Which Sub Registrar Office covers Velan Nagar 5th Cross Street?

The Virugambakkam Sub Registrar Office covers Velan Nagar 5th Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.