Guideline Value

Corporate

Guideline Value for Vinayaga Nagar Extn.

₹3850/sq.ft.

The guideline value for Vinayaga Nagar Extn. 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 ₹1500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹333 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹297 /sq.ft.
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 Vinayaga Nagar Extn.

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Vinayaga Nagar Extn. guideline value

The current guideline value of Vinayaga Nagar Extn. is Rs 3,850 per sq.ft, effective from 1 July 2024. This area falls under Velachery village and is classified as Residential Class II Type - III. The relevant registration office for this area is the Velacheri SRO.

How the guideline value of Vinayaga Nagar Extn. has changed

The guideline value for Vinayaga Nagar Extn. has seen significant changes over the years. In 2002, the guideline value was Rs 297 per sq.ft, which increased to Rs 333 per sq.ft in 2003, marking a 12% rise. The value then experienced a substantial increase of 350% to reach Rs 1,500 per sq.ft in 2007. Following this, the value remained unchanged at Rs 3,500 per sq.ft in both 2012 and 2023. The 2024 revision saw another increase of 10%, bringing the current guideline value to Rs 3,850 per sq.ft.

It is important to note that there is no figure available for the year 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1196%.

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, with a median value of Rs 4,400 per sq.ft. The guideline value for Vinayaga Nagar Extn. is below this median.

Stamp duty and registration fee for property in Vinayaga Nagar Extn.

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the 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, totaling 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vinayaga Nagar Extn.?

The Sub Registrar Office that covers Vinayaga Nagar Extn. 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 buying or selling property in Velachery, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees payable at the time of the sale.

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

Frequently asked questions

What is the current guideline value of Vinayaga Nagar Extn.?

The current guideline value of Vinayaga Nagar Extn. 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 increased from Rs 297 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, which is an overall increase of 1196% over the years.

What are the stamp duty and registration fees for a property in Vinayaga Nagar Extn.?

For a 1,000 sq.ft plot, the guideline value is Rs 38,50,000. The stamp duty is Rs 2,69,500, and the registration fee is Rs 77,000, totaling Rs 3,46,500.

Which office do I need to register my property in Vinayaga Nagar Extn.?

The Velacheri Sub Registrar Office is responsible for property registrations in Vinayaga Nagar Extn., located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Vinayaga Nagar Extn.?

Vinayaga Nagar Extn. is classified as Residential Class II Type - III, which is relevant for determining the guideline value and other property regulations.