Guideline Value

Corporate

Guideline Value for M.G.R. Nagar 8th Main Road

₹3850/sq.ft.

The guideline value for M.g.r. Nagar 8th 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 8th Main Road

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M.G.R. Nagar 8th Main Road guideline value

The current guideline value of M.G.R. Nagar 8th Main Road 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 8th Main Road has changed

The guideline value for M.G.R. Nagar 8th Main Road has seen several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 2,345 per sq.ft in 2017, marking a change of 56%. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, reflecting a significant increase of 64% from the 2017 figure. Overall, from 2007 to 2024, the guideline value has risen by 157%.

There are no figures available for the years 2023, 2012, 2003, and 2002 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with 2024 guideline values 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 M.G.R. Nagar 8th Main Road's 2024 figure is below this median.

Stamp duty and registration fee for property in M.G.R. Nagar 8th 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 would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total cost 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R. Nagar 8th Main Road?

The Sub Registrar Office that covers M.G.R. Nagar 8th Main Road 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 in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable duties, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 8th Main Road?

The current guideline value of M.G.R. Nagar 8th 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 8th Main Road?

M.G.R. Nagar 8th Main Road is classified as Residential Class II Type - III.

Where can I find the registration office for M.G.R. Nagar 8th Main Road?

The registration office for M.G.R. Nagar 8th Main Road is the Velacheri Sub Registrar Office, 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 8th Main Road?

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