Guideline Value

Corporate

Guideline Value for Velan Nagar Annex I

₹220/sq.ft.

The guideline value for Velan Nagar Annex I in Perungavur village (Redhills SRO, Chennai zone) is Rs 220 per sq.ft, effective 1 July 2024. It was Rs 200 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Perungavur

Village

Redhills

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹220 /sq.ft.
From 1-4-2023 ₹200 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹134 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹200 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹100 /sq.ft.
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)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[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 Annex I

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Velan Nagar Annex I guideline value

The current guideline value of Velan Nagar Annex I is Rs 220 per sq.ft, effective from 1 July 2024. This area is located in Perungavur village and falls under the Redhills SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Velan Nagar Annex I has changed

The guideline value for Velan Nagar Annex I has undergone several revisions over the years. In 2007, the value was set at Rs 100 per sq.ft, which then increased to Rs 200 per sq.ft in 2012. However, it saw a decrease to Rs 134 per sq.ft in 2017. The most recent revisions show a significant increase, with the value rising to Rs 200 per sq.ft in 2023 and further to Rs 220 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 120%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungavur

In Perungavur village, there are 79 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft, with a median value of Rs 275 per sq.ft. The guideline value for Velan Nagar Annex I is below this median.

Stamp duty and registration fee for property in Velan Nagar Annex I

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, while the registration fee at 2% would be Rs 4,400, bringing the total fees together to Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Velan Nagar Annex I?

The Sub Registrar Office that covers Velan Nagar Annex I is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perungavur, as it determines the minimum value at which a property can be registered. When a buyer purchases a property, the registration fees and stamp duty are calculated based on this guideline value, ensuring that the government receives the appropriate revenue from property transactions.

Additionally, the guideline value helps in standardizing property values within the area, providing a reference point for buyers and sellers. It is essential for all parties involved in a transaction to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Velan Nagar Annex I?

The current guideline value of Velan Nagar Annex I is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 220 per sq.ft in 2024, reflecting an overall increase of 120% over this period.

What is the stamp duty rate for properties in Velan Nagar Annex I?

The stamp duty rate for properties in Velan Nagar Annex I is 7% of the guideline value or the sale price, whichever is higher.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the other streets in Perungavur with their guideline values?

Other streets in Perungavur include Velan Nagar at Rs 220 per sq.ft, Velavan Nagar at Rs 385 per sq.ft, Vekkali Amman Nagar at Rs 220 per sq.ft, Vasugi Nagar at Rs 275 per sq.ft, and Vaideki Nagar at Rs 220 per sq.ft.