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Guideline Value

Corporate

Guideline Value for Venkateshwara Nagar 5th Street

₹3850/sq.ft.

The guideline value for Venkateshwara Nagar 5th 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 ₹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 5th Street

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Venkateshwara Nagar 5th Street guideline value

The current guideline value of Venkateshwara Nagar 5th 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 5th Street has changed

Over the years, the guideline value of Venkateshwara Nagar 5th Street has seen significant changes. The earliest recorded figure is from 2002, which was Rs 224 per sq.ft. This value increased dramatically to Rs 3,500 per sq.ft in 2012, marking a rise of 1463%. The guideline value remained unchanged at Rs 3,500 per sq.ft until 2023. In 2024, the value increased by 10% to Rs 3,850 per sq.ft.

There are no recorded figures for the years 2003, 2007, and 2017 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 in this area is Rs 4,400 per sq.ft, placing Venkateshwara Nagar 5th Street's 2024 figure below that median.

Stamp duty and registration fee for property in Venkateshwara Nagar 5th 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 to Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Venkateshwara Nagar 5th Street?

The Venkateshwara Nagar 5th 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 in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not undervalued during transactions.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar 5th Street?

The current guideline value of Venkateshwara Nagar 5th 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, representing an increase of 1619% overall.

What is the median guideline value in Velachery?

The median guideline value in Velachery is Rs 4,400 per sq.ft, which is higher than the current value of Venkateshwara Nagar 5th Street.

What are the stamp duty rates for property in Venkateshwara Nagar 5th Street?

The stamp duty for property transactions in Venkateshwara Nagar 5th Street is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles property registration for Venkateshwara Nagar 5th Street?

The Velacheri Sub Registrar Office handles property registration for Venkateshwara Nagar 5th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.