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Guideline Value

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Guideline Value for Vijaya Nagar 2nd Main Road/Ram Nagar North Extension

₹4400/sq.ft.

The guideline value for Vijaya Nagar 2nd Main Road/ram Nagar North Extension in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /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 Main Road/ram Nagar North Extension

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Vijaya Nagar 2nd Main Road/Ram Nagar North Extension guideline value

The current guideline value for Vijaya Nagar 2nd Main Road/Ram Nagar North Extension is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Velachery village and falls under the Velacheri SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Vijaya Nagar 2nd Main Road/Ram Nagar North Extension has changed

The guideline value for this street has undergone several revisions over the years. In 2012, the value was set at Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in the 2017 revision. However, the latest revision in 2024 has seen a significant increase, bringing the value back up to Rs 4,400 per sq.ft. Notably, there are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

When comparing the revisions, the change from 2017 to 2024 represents a substantial increase of 64%. From 2012 to 2017, the value decreased by 33%, while the overall change from 2012 to 2024 shows a modest increase of 10%.

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, which aligns with the current value for Vijaya Nagar 2nd Main Road/Ram Nagar North Extension.

Stamp duty and registration fee for property in Vijaya Nagar 2nd Main Road/Ram Nagar North Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty is charged at 7%, resulting in Rs 3,08,000, while the registration fee at 2% totals Rs 88,000. The combined total for these fees is Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijaya Nagar 2nd Main Road/Ram Nagar North Extension?

The Sub Registrar Office that covers Vijaya Nagar 2nd Main Road/Ram Nagar North Extension 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 during 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 documented accurately in accordance with the regulations set by the state.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the sale price, which can affect the overall costs involved in the transaction.

Frequently asked questions

What is the current guideline value for Vijaya Nagar 2nd Main Road/Ram Nagar North Extension?

The current guideline value for Vijaya Nagar 2nd Main Road/Ram Nagar North Extension is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, and then increased to Rs 4,400 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

What is the land classification for this street?

The land classification for Vijaya Nagar 2nd Main Road/Ram Nagar North Extension is Residential Class II Type - II.

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 is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 44,00,000, leading to a total of Rs 3,96,000 for both fees combined.