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Guideline Value

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Guideline Value for Venkateswara Nagar, 3rd Main Road, 2nd Cross Street

₹3850/sq.ft.

The guideline value for Venkateswara Nagar, 3rd Main Road, 2nd 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 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 Venkateswara Nagar, 3rd Main Road, 2nd Cross Street

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Venkateswara Nagar, 3rd Main Road, 2nd Cross Street guideline value

The current guideline value for Venkateswara Nagar, 3rd Main Road, 2nd 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 Venkateswara Nagar, 3rd Main Road, 2nd Cross Street has changed

The guideline value for Venkateswara Nagar, 3rd Main Road, 2nd Cross Street has seen significant changes over the years. The 2017 revision recorded a guideline value of Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in 2023, marking a 49% rise. In the latest 2024 revision, the value further increased by 10% to Rs 3,850 per sq.ft.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with 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, indicating that Venkateswara Nagar, 3rd Main Road, 2nd Cross Street's 2024 figure is below the median.

Stamp duty and registration fee for property in Venkateswara Nagar, 3rd Main Road, 2nd 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 would be 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 for these fees to Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswara Nagar, 3rd Main Road, 2nd Cross Street?

The Sub Registrar Office covering Venkateswara Nagar, 3rd Main Road, 2nd Cross Street 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 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 stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value for Venkateswara Nagar, 3rd Main Road, 2nd Cross Street?

The current guideline value for Venkateswara Nagar, 3rd Main Road, 2nd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024, marking an overall increase of 64%.

What is the stamp duty rate applicable for properties in Venkateswara Nagar?

The stamp duty rate applicable for properties in Venkateswara Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the guideline values for other streets in Velachery?

The guideline values for other streets in Velachery vary, with the 2024 figures ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, indicating that Venkateswara Nagar, 3rd Main Road, 2nd Cross Street's value is below this median.