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Guideline Value

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Guideline Value for Vijaya Nagar 2nd Lane

₹3850/sq.ft.

The guideline value for Vijaya Nagar 2nd Lane in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. 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 N/A
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 Vijaya Nagar 2nd Lane

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Vijaya Nagar 2nd Lane guideline value

The current guideline value of Vijaya Nagar 2nd Lane 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 Vijaya Nagar 2nd Lane has changed

The guideline value for Vijaya Nagar 2nd Lane 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 a significant increase from Rs 2,345 per sq.ft in the 2017 revision. This marks a change of +64% from 2017 to 2024. Prior to that, in the 2012 revision, the guideline value was Rs 3,500 per sq.ft, indicating a decrease of -33% when compared to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%.

It is important to note that there are no figures available for the revisions in the years 2023, 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 for these streets is Rs 4,400 per sq.ft, placing Vijaya Nagar 2nd Lane's current figure below that median.

Stamp duty and registration fee for property in Vijaya Nagar 2nd Lane

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 cost for these fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vijaya Nagar 2nd Lane?

The Sub Registrar Office that covers Vijaya Nagar 2nd Lane 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 plays a crucial role in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value according to the local regulations.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions within the region.

Frequently asked questions

What is the current guideline value of Vijaya Nagar 2nd Lane?

The current guideline value of Vijaya Nagar 2nd Lane 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, and now to Rs 3,850 per sq.ft in 2024. This represents a +64% increase from 2017 to 2024, and a +10% increase overall from 2012 to 2024.

What are the other streets in Velachery and their guideline values?

Other streets in Velachery have guideline values ranging from Rs 4,400 per sq.ft in 2024. Some examples include Vijaya Nagar 2nd Main Road, Vijaya Nagar 2nd Cross Street, and Vijaya Nagar 2nd Avenue, all valued at Rs 4,400 per sq.ft.

What fees are associated with buying property in Vijaya Nagar 2nd Lane?

When buying property in Vijaya Nagar 2nd Lane, you will incur a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vijaya Nagar 2nd Lane?

The Sub Registrar Office for Vijaya Nagar 2nd Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.