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Guideline Value

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Guideline Value for Venkateshwara Nagar 6th Main Road 1st Cross St

₹3850/sq.ft.

The guideline value for Venkateshwara Nagar 6th Main Road 1st Cross St 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 Venkateshwara Nagar 6th Main Road 1st Cross St

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Venkateshwara Nagar 6th Main Road 1st Cross St guideline value

The current guideline value for Venkateshwara Nagar 6th Main Road 1st Cross St is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, and it falls under the Residential Class II Type - III land classification.

How the guideline value of Venkateshwara Nagar 6th Main Road 1st Cross St has changed

The guideline value for Venkateshwara Nagar 6th Main Road 1st Cross St has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which is an increase from Rs 3,500 per sq.ft in the 2023 revision. This represents a 10% increase from the previous year. In the 2012 revision, the value was also Rs 3,500 per sq.ft, indicating no change from 2012 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no figures available for the revisions in 2017, 2007, 2003, and 2002 for this street.

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 the area is Rs 4,400 per sq.ft, making the current value of Venkateshwara Nagar 6th Main Road 1st Cross St below that median.

Stamp duty and registration fee for property in Venkateshwara Nagar 6th Main Road 1st Cross St

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 together to 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateshwara Nagar 6th Main Road 1st Cross St?

The Sub Registrar Office that covers Venkateshwara Nagar 6th Main Road 1st Cross St is 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 details.

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, ensuring that the transaction is legally documented and taxed appropriately.

When a property is sold, the buyer and seller must refer to the guideline value to understand the financial implications of the transaction. This value is set by the government and is intended to reflect the fair value of the property for taxation purposes.

Frequently asked questions

What is the current guideline value for Venkateshwara Nagar 6th Main Road 1st Cross St?

The current guideline value for Venkateshwara Nagar 6th Main Road 1st Cross St 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 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. There was no change in the value from 2012 to 2023, and the overall increase from 2012 to 2024 is also 10%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. Duty is charged on the higher of the guideline value or the sale price.

Which office registers properties in Venkateshwara Nagar 6th Main Road 1st Cross St?

The Velacheri Sub Registrar Office is responsible for registering properties in Venkateshwara Nagar 6th Main Road 1st Cross St, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Venkateshwara Nagar 6th Main Road 1st Cross St?

Venkateshwara Nagar 6th Main Road 1st Cross St falls under the Residential Class II Type - III land classification.