Guideline Value

Corporate

Guideline Value for Venus Colony 3rd Avenue

₹3850/sq.ft.

The guideline value for Venus Colony 3rd Avenue 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 Venus Colony 3rd Avenue

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Venus Colony 3rd Avenue guideline value

The current guideline value of Venus Colony 3rd Avenue 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 Venus Colony 3rd Avenue has changed

The guideline value for Venus Colony 3rd Avenue 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. The 2023 figure remained unchanged from the 2012 revision, which also recorded Rs 3,500 per sq.ft. Notably, the register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. This reflects the changes from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024.

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 for these streets is Rs 4,400 per sq.ft, positioning Venus Colony 3rd Avenue's 2024 figure below that median.

Stamp duty and registration fee for property in Venus Colony 3rd Avenue

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 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venus Colony 3rd Avenue?

The Sub Registrar Office that covers Venus Colony 3rd Avenue 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 during property registration in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must ensure that the sale price of the property is at least equal to the guideline value to comply with legal requirements.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the government and the parties involved in the transaction are aware of the property's value as per official records.

Frequently asked questions

What is the current guideline value of Venus Colony 3rd Avenue?

The current guideline value of Venus Colony 3rd Avenue 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 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. The value remained the same at Rs 3,500 per sq.ft from 2012 to 2023.

What is the classification of Venus Colony 3rd Avenue?

Venus Colony 3rd Avenue is classified as Residential Class II Type - III, indicating its designation for residential use.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Venus Colony 3rd Avenue is charged at 7% of the guideline value or sale price, whichever is higher. This is in addition to a registration fee of 2%.

Where can I find the Sub Registrar Office for Venus Colony 3rd Avenue?

The Sub Registrar Office for Venus Colony 3rd Avenue is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles the registration of properties in the area.