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Guideline Value

Corporate

Guideline Value for Vijaya Nagar 3rd Lane

₹3850/sq.ft.

The guideline value for Vijaya Nagar 3rd 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 3rd Lane

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Vijaya Nagar 3rd Lane guideline value

The current guideline value of Vijaya Nagar 3rd 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 3rd Lane has changed

In the 2012 revision, the guideline value was set at Rs 3,500 per sq.ft. This figure saw a decrease in the 2017 revision, dropping to Rs 2,345 per sq.ft, which represents a decline of 33%. However, from 2017 to the 2024 revision, the guideline value increased significantly to Rs 3,850 per sq.ft, marking a rise of 64%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register does not provide figures for the years 2002, 2003, 2007, or 2023 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 value for these streets is Rs 4,400 per sq.ft, placing the 2024 figure for Vijaya Nagar 3rd Lane below this median.

Stamp duty and registration fee for property in Vijaya Nagar 3rd Lane

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, making the total cost for these fees 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vijaya Nagar 3rd Lane?

The Sub Registrar Office that covers Vijaya Nagar 3rd 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 is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is referenced to determine the minimum price at which a property can be registered. This helps maintain transparency in property transactions and prevents undervaluation.

Frequently asked questions

What is the current guideline value of Vijaya Nagar 3rd Lane?

The current guideline value of Vijaya Nagar 3rd 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 then increased to Rs 3,850 per sq.ft in 2024. This reflects a decline from 2012 to 2017, followed by a significant increase from 2017 to 2024.

What is the land classification for Vijaya Nagar 3rd Lane?

Vijaya Nagar 3rd Lane is classified as Residential Class II Type - III, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For instance, on a 1,000 sq.ft plot, the total fees would amount to Rs 3,46,500.

Where is the Sub Registrar Office for Vijaya Nagar 3rd Lane located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042, and it covers property registrations for Vijaya Nagar 3rd Lane.