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Guideline Value

Corporate

Guideline Value for Venkateshwara Nagar 3rd Cross Street

₹3850/sq.ft.

The guideline value for Venkateshwara Nagar 3rd Cross 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 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹251 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹224 /sq.ft.
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 Venkateshwara Nagar 3rd Cross Street

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Venkateshwara Nagar 3rd Cross Street guideline value

The current guideline value for Venkateshwara Nagar 3rd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. 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 Venkateshwara Nagar 3rd Cross Street has changed

The guideline value for Venkateshwara Nagar 3rd Cross Street has seen significant changes over the years. In 2002, the guideline value was Rs 224 per sq.ft, which increased to Rs 251 per sq.ft in 2003, marking a 12% increase. The value then rose dramatically to Rs 1,800 per sq.ft in 2007, reflecting a 617% increase. Following this, in 2017, the guideline value was set at Rs 2,345 per sq.ft, a 30% increase from the previous revision. The next revision in 2023 saw a substantial rise to Rs 3,500 per sq.ft, which was a 49% increase. The most recent revision in 2024 has brought the value to Rs 3,850 per sq.ft, representing a 10% increase from 2023.

It is important to note that there is no figure available for the 2012 revision for this street. Overall, from 2002 to 2024, the guideline value has increased by 1619%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Venkateshwara Nagar 3rd Cross Street's 2024 figure below that median.

Stamp duty and registration fee for property in Venkateshwara Nagar 3rd 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, totaling 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 also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateshwara Nagar 3rd Cross Street?

The Venkateshwara Nagar 3rd Cross Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

When registering a property, it is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations associated with the purchase or sale. Understanding these values can help in planning and budgeting for property transactions in the area.

Frequently asked questions

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

The current guideline value of Venkateshwara Nagar 3rd 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 increased significantly from Rs 224 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1619% over the years.

What is the land classification of Venkateshwara Nagar 3rd Cross Street?

Venkateshwara Nagar 3rd Cross Street is classified as Residential Class II Type - III.

Where can I find the registration office for Venkateshwara Nagar 3rd Cross Street?

The registration office for Venkateshwara Nagar 3rd Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable, making it essential to consider these costs when planning a property transaction.