Guideline Value

Corporate

Guideline Value for M.G.R. Nagar 7th Main Road

₹3850/sq.ft.

The guideline value for M.g.r. Nagar 7th Main Road 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 ₹1500 /sq.ft.
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 7th Main Road

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M.G.R. Nagar 7th Main Road guideline value

The current guideline value of M.G.R. Nagar 7th Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO, with a land classification of Residential Class II Type - III.

How the guideline value of M.G.R. Nagar 7th Main Road has changed

In the 2007 revision, the guideline value was Rs 1,500 per sq.ft. This increased to Rs 2,345 per sq.ft in the 2017 revision, marking a change of +56%. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, reflecting a significant increase of +64% from the 2017 figure. The register has no figures for the years 2023, 2012, 2003, and 2002 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +157%. This consistent rise indicates changes in the valuation of properties along M.G.R. Nagar 7th Main Road over the years.

Guideline values in Velachery

In Velachery village, 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, placing M.G.R. Nagar 7th Main Road's 2024 figure below that median.

Stamp duty and registration fee for property in M.G.R. Nagar 7th 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 amounts to 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 fees together to 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R. Nagar 7th Main Road?

The M.G.R. Nagar 7th Main Road falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more details, you can find your SRO.

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

The guideline value is a crucial figure used during property registration in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and standardization in property transactions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions based on the established guideline value.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 7th Main Road?

The current guideline value of M.G.R. Nagar 7th 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 1,500 per sq.ft in 2007 to Rs 2,345 per sq.ft in 2017, and then to Rs 3,850 per sq.ft in 2024. This represents an overall increase of +157% from 2007 to 2024.

What is the land classification for M.G.R. Nagar 7th Main Road?

The land classification for M.G.R. Nagar 7th Main Road is Residential Class II Type - III.

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 the stamp duty calculated for properties in M.G.R. Nagar 7th Main Road?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,69,500.