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Guideline Value

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Guideline Value for Alacritiy Apartments M.G.R. Nagar 1st Street

₹13200/sq.ft.

The guideline value for Alacritiy Apartments M.g.r. Nagar 1st Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 13200 per sq.ft, effective 1 July 2024. It was Rs 12000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹13200 /sq.ft.
From 1-4-2023 ₹12000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹8040 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹12000 /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 Alacritiy Apartments M.g.r. Nagar 1st Street

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Alacritiy Apartments M.G.R. Nagar 1st Street guideline value

The current guideline value of Alacritiy Apartments M.G.R. Nagar 1st Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This property is located in Velachery village, under the Velacheri SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Alacritiy Apartments M.G.R. Nagar 1st Street has changed

The guideline value for Alacritiy Apartments M.G.R. Nagar 1st Street has seen several revisions over the years. In 2012, the guideline value was Rs 12,000 per sq.ft. This figure decreased to Rs 8,040 per sq.ft in 2017, reflecting a change of -33%. However, from 2017 to 2023, the value rose significantly to Rs 12,000 per sq.ft, which is an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 13,200 per sq.ft, marking a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values 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, indicating that the guideline value for Alacritiy Apartments M.G.R. Nagar 1st Street is above this median.

Stamp duty and registration fee for property in Alacritiy Apartments M.G.R. Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Alacritiy Apartments M.G.R. Nagar 1st Street?

The Alacritiy Apartments M.G.R. Nagar 1st Street falls under 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. It is used to determine the stamp duty and registration fees that need to be paid during the property transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

When selling property, the guideline value can influence the selling price, as it provides a benchmark for property valuation. It is essential for both buyers and sellers to understand how the guideline value impacts their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value for Alacritiy Apartments M.G.R. Nagar 1st Street?

The current guideline value for Alacritiy Apartments M.G.R. Nagar 1st Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 12,000 per sq.ft in 2012 to Rs 8,040 per sq.ft in 2017, then back to Rs 12,000 per sq.ft in 2023, and finally to Rs 13,200 per sq.ft in 2024.

What is the land classification for Alacritiy Apartments M.G.R. Nagar 1st Street?

The land classification for Alacritiy Apartments M.G.R. Nagar 1st Street is Commercial Class I Type - I.

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 and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 11,88,000.