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Guideline Value

Corporate

Guideline Value for Venkateshawara Nagar Vaduvambal Nagar 2nd Street

₹3850/sq.ft.

The guideline value for Venkateshawara Nagar Vaduvambal Nagar 2nd Street in Velachery village (Velacheri 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 - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
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 N/A
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.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[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 Venkateshawara Nagar Vaduvambal Nagar 2nd Street

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Venkateshawara Nagar Vaduvambal Nagar 2nd Street guideline value

The current guideline value for Venkateshawara Nagar Vaduvambal Nagar 2nd Street is Rs 3,850 per sq.ft. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Venkateshawara Nagar Vaduvambal Nagar 2nd Street has changed

Since the 2012 revision, the guideline value has seen an overall increase of 10%. The 2012 revision recorded a value of Rs 3,500 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value increased to Rs 3,500 per sq.ft, and subsequently, the 2024 revision set the value at Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street. Thus, the only revisions with recorded figures are from 2012, 2023, and 2024.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, making the current value of Venkateshawara Nagar Vaduvambal Nagar 2nd Street below the median.

Stamp duty and registration fee for property in Venkateshawara Nagar Vaduvambal Nagar 2nd 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 fees 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.

You can use our stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Venkateshawara Nagar Vaduvambal Nagar 2nd Street?

The Venkateshawara Nagar Vaduvambal Nagar 2nd Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value of the property, ensuring that the registration fee and stamp duty are calculated fairly based on this established value.

When a property is sold, the buyer and seller must adhere to the guideline value to ensure compliance with local regulations. This value helps in maintaining transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Venkateshawara Nagar Vaduvambal Nagar 2nd Street?

The current guideline value for Venkateshawara Nagar Vaduvambal Nagar 2nd 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 increased from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase overall. The value remained unchanged from 2012 to 2023 and then increased by 10% from 2023 to 2024.

What is the land classification for this street?

Venkateshawara Nagar Vaduvambal Nagar 2nd Street is classified as Residential Class II Type - III, indicating its suitability for residential development.

Which office handles registrations for this area?

The Velacheri Sub Registrar Office handles registrations for Venkateshawara Nagar Vaduvambal Nagar 2nd Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at a rate of 7%.