Guideline Value

Corporate

Guideline Value for Venus Colony 1st Street

₹3850/sq.ft.

The guideline value for Venus Colony 1st 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 ₹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 Venus Colony 1st Street

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Venus Colony 1st Street guideline value

The current guideline value of Venus Colony 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Venus Colony 1st Street has changed

The guideline value for Venus Colony 1st Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 3,500 per sq.ft. This figure remained until the 2017 revision when it dropped to Rs 2,345 per sq.ft, marking a decrease of 33%. The value then rose significantly to Rs 3,500 per sq.ft in 2023, and further increased by 10% to Rs 3,850 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 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 this area is Rs 4,400 per sq.ft, indicating that Venus Colony 1st Street's 2024 figure is below this median.

Stamp duty and registration fee for property in Venus Colony 1st 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, while the registration fee at 2% would be Rs 77,000. Together, the total cost for these fees would be Rs 3,46,500. It is important to note that 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 Venus Colony 1st Street?

The Sub Registrar Office that covers Venus Colony 1st 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 details.

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

The guideline value plays a crucial role during property transactions in Velachery. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the transaction process.

When purchasing property, the guideline value is often referenced to ascertain the minimum value for registration purposes. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Venus Colony 1st Street?

The current guideline value of Venus Colony 1st 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 from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification for Venus Colony 1st Street?

Venus Colony 1st Street is classified as Residential Class II Type - III.

Where can I find the Velacheri Sub Registrar Office?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 38,50,000, the total stamp duty and registration fees would amount to Rs 3,46,500.