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Guideline Value

Corporate

Guideline Value for M.G.R. Nagar Gandhi Nagar Main Road

₹3850/sq.ft.

The guideline value for M.g.r. Nagar Gandhi Nagar Main Road in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. 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 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /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 Gandhi Nagar Main Road

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M.G.R. Nagar Gandhi Nagar Main Road guideline value

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

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

The guideline value for M.G.R. Nagar Gandhi Nagar Main Road has seen several revisions over the years. In 2012, the guideline value was Rs 3,500 per sq.ft, which decreased to Rs 2,345 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 3,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which means that M.G.R. Nagar Gandhi Nagar Main Road's 2024 figure is below that median.

Stamp duty and registration fee for property in M.G.R. Nagar Gandhi Nagar 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, and the registration fee at 2% would be Rs 77,000, making the total cost Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

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

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

The guideline value is a critical factor when registering property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and tax purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of M.G.R. Nagar Gandhi Nagar 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 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

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

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

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

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,69,500.