Guideline Value

Corporate

Guideline Value for M.G.R. Nagar 5th Cross Street

₹3850/sq.ft.

The guideline value for M.g.r. Nagar 5th Cross 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 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 5th Cross Street

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M.G.R. Nagar 5th Cross Street guideline value

The current guideline value of M.G.R. Nagar 5th Cross Street is Rs 3,850 per sq.ft. 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 5th Cross Street has changed

The guideline value for M.G.R. Nagar 5th Cross Street has undergone several revisions. The earliest available figure is from the 2017 revision, which was set at Rs 2,345 per sq.ft. The most recent revision in 2024 has increased this value to Rs 3,850 per sq.ft, marking a significant increase of 64% over the seven-year period.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street. Thus, the only revisions with figures are from 2017 and 2024.

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 for these streets is Rs 4,400 per sq.ft, which means that the 2024 figure for M.G.R. Nagar 5th Cross Street is below this median.

Stamp duty and registration fee for property in M.G.R. Nagar 5th Cross 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, bringing the total charges to Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value or 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 5th Cross Street?

The M.G.R. Nagar 5th Cross 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 details.

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

The guideline value is an essential factor in determining the stamp duty and registration fees when buying or selling property in Velachery. It serves as a benchmark for the value of the property, ensuring that the transaction is recorded accurately in the official registers.

When you register a property, the guideline value will be used to calculate the applicable fees, which are mandatory for all transactions. This ensures transparency and compliance with the local regulations governing property transactions.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 5th Cross Street?

The current guideline value of M.G.R. Nagar 5th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft, which is a change of 64% over the seven years.

What are the guideline values for other streets in Velachery?

Other streets in Velachery under the Velacheri SRO have a guideline value ranging from Rs 3,850 per sq.ft to Rs 13,200 per sq.ft, with the median value being Rs 4,400 per sq.ft.

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. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in M.G.R. Nagar 5th Cross Street?

Stamp duty for properties in M.G.R. Nagar 5th Cross Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.