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Guideline Value

Corporate

Guideline Value for Vigneshwara Street/Ganesh Nagar

₹3850/sq.ft.

The guideline value for Vigneshwara Street/ganesh Nagar 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 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 Vigneshwara Street/ganesh Nagar

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Vigneshwara Street/Ganesh Nagar guideline value

The current guideline value of Vigneshwara Street/Ganesh Nagar 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 Vigneshwara Street/Ganesh Nagar has changed

The guideline value for Vigneshwara Street/Ganesh Nagar has seen several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 3,500 per sq.ft, and in the latest 2024 revision, it increased to Rs 3,850 per sq.ft, marking a change of +10%.

As of the 2024 revision, the guideline value stands at Rs 3,850 per sq.ft. This reflects an increase from the previous year, 2023, where the value was Rs 3,500 per sq.ft. The consistent updates to the guideline value ensure that it reflects the current market conditions in the area.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values 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, placing Vigneshwara Street/Ganesh Nagar below this median.

Stamp duty and registration fee for property in Vigneshwara Street/Ganesh Nagar

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 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 Vigneshwara Street/Ganesh Nagar?

The Vigneshwara Street/Ganesh Nagar area is covered by 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 serves as a benchmark for property transactions in Velachery. It is used to determine the stamp duty and registration fees when a property is bought or sold, ensuring that the transaction is recorded at a value that reflects the current market conditions.

When registering a property, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vigneshwara Street/Ganesh Nagar?

The current guideline value of Vigneshwara Street/Ganesh Nagar 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, reflecting a +10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Vigneshwara Street/Ganesh Nagar?

The land classification for Vigneshwara Street/Ganesh Nagar is Residential Class II Type - III, indicating its suitability for residential development.

What is the registration office for Vigneshwara Street/Ganesh Nagar?

The registration office covering Vigneshwara Street/Ganesh Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at 7%.