Guideline Value

Corporate

Guideline Value for M.G.R. Nagar 4th Street

₹3850/sq.ft.

The guideline value for M.g.r. Nagar 4th Street 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 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 ₹170 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹151 /sq.ft.
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 4th Street

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M.G.R. Nagar 4th Street guideline value

The current guideline value of M.G.R. Nagar 4th 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 4th Street has changed

The guideline value for M.G.R. Nagar 4th Street has seen significant changes over the years. In 2002, the guideline value was Rs 151 per sq.ft, which increased to Rs 170 per sq.ft in 2003, marking a change of +13%. By 2017, the value rose dramatically to Rs 2,345 per sq.ft, reflecting an increase of +1279% from the 2003 figure. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, showing a substantial increase of +64% from the 2017 revision.

It is important to note that there are no figures available for M.G.R. Nagar 4th Street in the revisions for 2023, 2012, and 2007. Overall, from the 2002 figure to the 2024 figure, the guideline value has increased by +2450%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a guideline value for 2024, 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 4th Street's 2024 figure of Rs 3,850 per sq.ft is below this median.

Stamp duty and registration fee for property in M.G.R. Nagar 4th Street

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 amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total charges Rs 3,46,500. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R. Nagar 4th Street?

The Sub Registrar Office that covers M.G.R. Nagar 4th Street 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 when registering property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property in the area.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 4th Street?

The current guideline value of M.G.R. Nagar 4th 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 significantly increased from Rs 151 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of +2450% over this period.

What is the stamp duty rate for property in M.G.R. Nagar 4th Street?

The stamp duty rate for property transactions in M.G.R. Nagar 4th Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for M.G.R. Nagar 4th Street located?

The Velacheri Sub Registrar Office, which covers M.G.R. Nagar 4th Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

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

Other streets in Velachery with the same guideline value of Rs 3,850 per sq.ft include M.G.R. Nagar 4th Main Road 3rd Cross Street, M.G.R. Nagar 4th Main Road, M.G.R. Nagar 4th Cross Street, M.G.R. Nagar 5th Cross Street, M.G.R. Nagar 5th Main Road, and M.G.R. Nagar 5th Street.