Guideline Value

Corporate

Guideline Value for M.G.R. Nagar 11th Main Road

₹3850/sq.ft.

The guideline value for M.g.r. Nagar 11th Main Road 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 ₹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 M.g.r. Nagar 11th Main Road

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M.G.R. Nagar 11th Main Road guideline value

The current guideline value of M.G.R. Nagar 11th Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of M.G.R. Nagar 11th Main Road has changed

The guideline value for M.G.R. Nagar 11th Main Road has undergone several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,500 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 133%. However, in 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33%. The most recent revision in 2024 saw the guideline value rise to Rs 3,850 per sq.ft, reflecting an increase of 64% from 2017.

Overall, from 2007 to 2024, the guideline value has increased by 157%. It is important to note that there are no figures available for the revisions in 2023, 2003, and 2002 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 guideline value in the area is Rs 4,400 per sq.ft, which means that the guideline value of M.G.R. Nagar 11th Main Road is below this median.

Stamp duty and registration fee for property in M.G.R. Nagar 11th Main Road

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, bringing the total fees to 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R. Nagar 11th Main Road?

The M.G.R. Nagar 11th Main Road 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 details.

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

When buying or selling property in Velachery, the guideline value plays a crucial role in the registration process. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The guideline value is set by the Registration Department and is updated periodically to reflect changes in the market.

Buyers and sellers must be aware that the guideline value is a minimum value for property transactions. The actual sale price may be higher, and in such cases, the stamp duty will be calculated based on the higher of the two values, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 11th Main Road?

The current guideline value of M.G.R. Nagar 11th Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,500 per sq.ft to Rs 3,850 per sq.ft in 2024, representing an overall increase of 157%. There was a decrease between 2012 and 2017, but the latest revision shows a significant increase.

What is the stamp duty rate for properties in M.G.R. Nagar 11th Main Road?

The stamp duty rate for properties in M.G.R. Nagar 11th Main Road is 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for M.G.R. Nagar 11th Main Road?

The Velacheri Sub Registrar Office handles registrations for M.G.R. Nagar 11th Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the other streets with the same guideline value in Velachery?

Other streets in Velachery, such as M.G.R. Nagar 10th Street, M.G.R. Nagar 11th Street, M.G.R. Nagar 12th Main Road, M.G.R. Nagar 10th Main Road, M.G.R. Nagar 12th Street, and M.G.R. Nagar 13th Main Road, all have a guideline value of Rs 3,850 per sq.ft for 2024.