Guideline Value

Corporate

Guideline Value for M.G.R. Nagar 13th Main Road

₹3850/sq.ft.

The guideline value for M.g.r. Nagar 13th Main Road 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 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 M.g.r. Nagar 13th Main Road

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M.G.R. Nagar 13th Main Road guideline value

The current guideline value for M.G.R. Nagar 13th Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of M.G.R. Nagar 13th Main Road has changed

The guideline value for M.G.R. Nagar 13th Main Road has seen several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 3,500 per sq.ft. This figure remained unchanged until the next revision in 2023, which also recorded the value at Rs 3,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 3,850 per sq.ft, marking a 10% rise from the previous year.

Between the 2012 and 2024 revisions, the overall increase in guideline value is 10%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2017 for this street in the register.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, which means that the guideline value for M.G.R. Nagar 13th Main Road is below this median.

Stamp duty and registration fee for property in M.G.R. Nagar 13th 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 would be 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 cost for these fees to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate estimates based on your specific property details.

Which Sub Registrar Office covers M.G.R. Nagar 13th Main Road?

The M.G.R. Nagar 13th Main Road is covered by 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 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 reflects a fair value for tax purposes.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 13th Main Road?

The current guideline value of M.G.R. Nagar 13th Main Road 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 from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 10% over this period.

What is the stamp duty for properties in M.G.R. Nagar 13th Main Road?

The stamp duty for properties in M.G.R. Nagar 13th Main Road is 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for M.G.R. Nagar 13th Main Road?

The Velacheri Sub Registrar Office handles registrations for M.G.R. Nagar 13th Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value in Velachery?

The median guideline value in Velachery is Rs 4,400 per sq.ft, which is above the current guideline value of M.G.R. Nagar 13th Main Road.