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Guideline Value

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Guideline Value for M.G.R. Nagar 14th Street (Alias) Gandhi Nagar Extn. Street

₹4400/sq.ft.

The guideline value for M.g.r. Nagar 14th Street (alias) Gandhi Nagar Extn. Street 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 N/A
From 1-4-2012 To 8-6-2017 N/A
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 14th Street (alias) Gandhi Nagar Extn. Street

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M.G.R. Nagar 14th Street (Alias) Gandhi Nagar Extn. Street guideline value

The current guideline value for M.G.R. Nagar 14th Street (Alias) Gandhi Nagar Extn. Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of M.G.R. Nagar 14th Street (Alias) Gandhi Nagar Extn. Street has changed

The guideline value for M.G.R. Nagar 14th Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which is an increase of 10% from the 2023 revision, where the value was Rs 4,000 per sq.ft. There are no figures available for the revisions in 2017, 2012, 2007, 2003, and 2002 for this street.

In summary, the guideline value increased from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024. The previous revisions do not provide any figures for M.G.R. Nagar 14th Street, indicating a lack of recorded changes in those years.

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 value for these streets is Rs 4,400 per sq.ft, making the guideline value for M.G.R. Nagar 14th Street equal to the median.

Stamp duty and registration fee for property in M.G.R. Nagar 14th Street (Alias) Gandhi Nagar Extn. Street

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 at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R. Nagar 14th Street (Alias) Gandhi Nagar Extn. Street?

The M.G.R. Nagar 14th Street (Alias) Gandhi Nagar Extn. 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 is a critical factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller engages in a transaction, the guideline value is assessed to ensure that the fees are calculated correctly. This ensures transparency and compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value for M.G.R. Nagar 14th Street?

The current guideline value for M.G.R. Nagar 14th Street (Alias) Gandhi Nagar Extn. Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

What is the classification of M.G.R. Nagar 14th Street?

M.G.R. Nagar 14th Street is classified as Residential Class II Type - II, which is relevant for determining its guideline value.

Where is the Velacheri Sub Registrar Office located?

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 14th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty at 7% would amount to Rs 3,08,000.