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Guideline Value

Corporate

Guideline Value for Lake Veiw Road / Mohanapuri

₹4400/sq.ft.

The guideline value for Lake Veiw Road / Mohanapuri in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. 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 ₹4000 /sq.ft.
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 Lake Veiw Road / Mohanapuri

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Lake Veiw Road / Mohanapuri guideline value

The current guideline value for Lake Veiw Road / Mohanapuri is Rs 4,400 per sq.ft. This property is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Lake Veiw Road / Mohanapuri has changed

The guideline value for Lake Veiw Road / Mohanapuri has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 4,000 per sq.ft, and the most recent revision in 2024 has set it at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The most significant change occurred between 2017 and 2023, where the value rose by 49%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is the same as the current value for Lake Veiw Road / Mohanapuri.

Stamp duty and registration fee for property in Lake Veiw Road / Mohanapuri

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 calculated at 7%, which totals Rs 3,08,000, and the registration fee is 2%, amounting to Rs 88,000. Together, the total fees would be 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lake Veiw Road / Mohanapuri?

The Sub Registrar Office that covers Lake Veiw Road / Mohanapuri 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 details.

How the guideline value is used when you buy or sell in Velachery

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value for Lake Veiw Road / Mohanapuri?

The current guideline value for Lake Veiw Road / Mohanapuri is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly. It was Rs 4,000 per sq.ft in 2012, decreased to Rs 2,680 per sq.ft in 2017, increased to Rs 4,000 per sq.ft in 2023, and is now Rs 4,400 per sq.ft in 2024.

What is the land classification for Lake Veiw Road / Mohanapuri?

Lake Veiw Road / Mohanapuri is classified as Residential Class II Type - II, indicating its suitability for residential development.

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

The Sub Registrar Office for Lake Veiw Road / Mohanapuri is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.