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Guideline Value

Corporate

Guideline Value for Venkateshwara Nagar 4th Street

₹3850/sq.ft.

The guideline value for Venkateshwara Nagar 4th 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 ₹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 4th Street

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Venkateshwara Nagar 4th Street guideline value

The current guideline value for Venkateshwara Nagar 4th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - III.

How the guideline value of Venkateshwara Nagar 4th Street has changed

Over the years, the guideline value of Venkateshwara Nagar 4th Street has seen significant changes. The earliest recorded figure is from 2002, which was Rs 224 per sq.ft. This value increased to Rs 251 per sq.ft in 2003, marking a change of +12%. The next major revision occurred in 2012, where the value remained at Rs 3,500 per sq.ft, showing a substantial increase of +1,294% from 2003. There were no figures available for the years 2007 and 2017.

In 2023, the guideline value was revised to Rs 3,500 per sq.ft, with no change from the previous figure in 2012. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, reflecting an increase of +10% from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by +1,619%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with 2024 guideline values 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, placing Venkateshwara Nagar 4th Street's 2024 figure below that median.

Stamp duty and registration fee for property in Venkateshwara Nagar 4th 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, making the total cost for these fees Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Venkateshwara Nagar 4th Street?

The Venkateshwara Nagar 4th Street falls under 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 when buying or selling property in Velachery, as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the transaction process.

When a property is sold, the buyer must ensure that the sale price meets or exceeds the guideline value to avoid any legal complications. The registration office will refer to the guideline value to assess the applicable fees based on the property's value.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar 4th Street?

The current guideline value of Venkateshwara Nagar 4th 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 224 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of +1,619%.

What is the role of the Velacheri SRO?

The Velacheri SRO is responsible for the registration of properties in the Velachery area, including determining the guideline values used for property transactions.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same value.

Where can I find more information about guideline values?

For detailed information on guideline values, you can refer to the Registration Department's guideline value register or use the stamp duty and registration fee calculator.