Guideline Value

Corporate

Guideline Value for M.G.R. Nagar 13th Street

₹3850/sq.ft.

The guideline value for M.g.r. Nagar 13th Street 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 ₹229 /sq.ft.
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 Street

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M.G.R. Nagar 13th Street guideline value

The current guideline value of M.G.R. Nagar 13th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street 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 13th Street has changed

The guideline value for M.G.R. Nagar 13th Street has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 229 per sq.ft. This figure saw a significant increase to Rs 3,500 per sq.ft in 2012, and it remained unchanged until the 2023 revision. In 2023, the guideline value was Rs 3,500 per sq.ft, which then increased by 10% to Rs 3,850 per sq.ft in the 2024 revision.

Notably, the increase from 2003 to 2012 was a remarkable 1428%. Overall, from 2003 to 2024, the guideline value has increased by 1581%. The revisions for the years 2002, 2007, and 2017 do not have any figures listed for this street in the register.

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. M.G.R. Nagar 13th Street's 2024 figure is below this median.

Stamp duty and registration fee for property in M.G.R. Nagar 13th Street

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, while the registration fee at 2% would be Rs 77,000, bringing the total 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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

The M.G.R. Nagar 13th Street 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 is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers must refer to the guideline value to ensure compliance with legal regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value for M.G.R. Nagar 13th Street?

The current guideline value for M.G.R. Nagar 13th Street 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 229 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 1581% over the years.

What is the land classification for M.G.R. Nagar 13th Street?

M.G.R. Nagar 13th Street is classified as Residential Class II Type - III, which indicates its use for residential purposes.

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 is stamp duty calculated for properties in M.G.R. Nagar 13th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.