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Guideline Value

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Guideline Value for M.G.R. Nagar Extn, A.G.S. Colony 6th Main Road

₹4400/sq.ft.

The guideline value for M.g.r. Nagar Extn, A.g.s. Colony 6th Main Road 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 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
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 Extn, A.g.s. Colony 6th Main Road

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M.G.R. Nagar Extn, A.G.S. Colony 6th Main Road guideline value

The current guideline value for M.G.R. Nagar Extn, A.G.S. Colony 6th Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This property is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of M.G.R. Nagar Extn, A.G.S. Colony 6th Main Road has changed

Over the years, the guideline value for M.G.R. Nagar Extn, A.G.S. Colony 6th Main Road has seen several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which was followed by a decrease to Rs 2,680 per sq.ft in 2017. However, the value increased significantly to Rs 4,000 per sq.ft in 2023, and then rose again to Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%, while from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which aligns with the current guideline value for M.G.R. Nagar Extn, A.G.S. Colony 6th Main Road.

Stamp duty and registration fee for property in M.G.R. Nagar Extn, A.G.S. Colony 6th Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and 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.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R. Nagar Extn, A.G.S. Colony 6th Main Road?

The M.G.R. Nagar Extn, A.G.S. Colony 6th Main Road is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Velachery, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being sold.

Frequently asked questions

What is the current guideline value for M.G.R. Nagar Extn?

The current guideline value for M.G.R. Nagar Extn, A.G.S. Colony 6th Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 4,000 per sq.ft to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for this area?

The land classification for M.G.R. Nagar Extn, A.G.S. Colony 6th Main Road is Residential Class II Type - II.

Where can I find the registration office for this area?

The registration office for M.G.R. Nagar Extn is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is calculated at 2%. These fees are essential for the registration process of property transactions.