Guideline Value

Corporate

Guideline Value for Velan Nagar 6th Cross Street

₹3850/sq.ft.

The guideline value for Velan Nagar 6th 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 6th Cross Street

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Velan Nagar 6th Cross Street guideline value

The current guideline value of Velan Nagar 6th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Velan Nagar 6th Cross Street has changed

The guideline value for Velan Nagar 6th Cross Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 367 per sq.ft. This increased to Rs 399 per sq.ft in 2003, followed by a significant rise to Rs 750 per sq.ft in 2007. The value then jumped to Rs 3,500 per sq.ft in 2012, but saw a decrease to Rs 2,345 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 3,500 per sq.ft, and the most recent 2024 revision set it at Rs 3,850 per sq.ft.

In terms of changes between revisions, the increase from 2023 to 2024 was 10%. The value rose by 49% from 2017 to 2023. There was a decrease of 33% from 2012 to 2017, while the value surged by 367% from 2007 to 2012. The increase from 2003 to 2007 was 88%, and from 2002 to 2003, it was 9%. Overall, from 2002 to 2024, the guideline value has increased by 949%. There are no figures available for revisions for years not listed.

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 the same as the 2024 figure for Velan Nagar 6th Cross Street.

Stamp duty and registration fee for property in Velan Nagar 6th 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, bringing the total cost for these fees to Rs 3,46,500. It is important to note that 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 Velan Nagar 6th Cross Street?

The Velan Nagar 6th Cross Street falls under 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 a crucial factor in the registration process of property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Velan Nagar 6th Cross Street?

The current guideline value for Velan Nagar 6th 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, reflecting an overall increase of 949% over this period.

What is the stamp duty for property in Velan Nagar 6th Cross Street?

The stamp duty for a property in Velan Nagar 6th Cross Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. The higher of the guideline value or sale price is considered for calculating these fees.