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Guideline Value

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Guideline Value for West Side Part 1 (Alias) Venkateshwara Nagar

₹3850/sq.ft.

The guideline value for West Side Part 1 (alias) Venkateshwara 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 ₹2345 /sq.ft.
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 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 West Side Part 1 (alias) Venkateshwara Nagar

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West Side Part 1 (Alias) Venkateshwara Nagar guideline value

The current guideline value for West Side Part 1 (Alias) Venkateshwara Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of West Side Part 1 (Alias) Venkateshwara Nagar has changed

The guideline value for West Side Part 1 (Alias) Venkateshwara Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,500 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 133%. However, by 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The value then surged to Rs 3,500 per sq.ft in 2023, reflecting a substantial increase of 49%. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 157%.

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 West Side Part 1 (Alias) Venkateshwara Nagar is below this median.

Stamp duty and registration fee for property in West Side Part 1 (Alias) Venkateshwara 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. Together, the total cost would be Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers West Side Part 1 (Alias) Venkateshwara Nagar?

The Sub Registrar Office that covers West Side Part 1 (Alias) Venkateshwara Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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 in accordance with government regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values for different areas.

Frequently asked questions

What is the current guideline value for West Side Part 1 (Alias) Venkateshwara Nagar?

The current guideline value for West Side Part 1 (Alias) Venkateshwara 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 significantly from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 157% over these years.

What is the land classification for this area?

West Side Part 1 (Alias) Venkateshwara Nagar is classified as Residential Class II Type - III.

Where can I find the Sub Registrar Office for this area?

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 and registration fees are calculated based on the guideline value of the property or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000.