Guideline Value

Corporate

Guideline Value for M.G.R. Nagar Panchatcharam Nagar

₹3850/sq.ft.

The guideline value for M.g.r. Nagar Panchatcharam Nagar 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 Panchatcharam Nagar

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M.G.R. Nagar Panchatcharam Nagar guideline value

The current guideline value of M.G.R. Nagar Panchatcharam Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This area 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 Panchatcharam Nagar has changed

The guideline value for M.G.R. Nagar Panchatcharam Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,850 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the value rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. 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 that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing M.G.R. Nagar Panchatcharam Nagar's 2024 figure below that median.

Stamp duty and registration fee for property in M.G.R. Nagar Panchatcharam Nagar

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 to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers M.G.R. Nagar Panchatcharam Nagar?

The M.G.R. Nagar Panchatcharam Nagar area falls under 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation and ensuring compliance with local regulations. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar Panchatcharam Nagar?

The current guideline value of M.G.R. Nagar Panchatcharam Nagar 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 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the registration office for M.G.R. Nagar Panchatcharam Nagar?

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

How is stamp duty calculated in M.G.R. Nagar Panchatcharam Nagar?

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

What are the other streets with guideline values in Velachery?

Other streets in Velachery include M.G.R. Nagar Gandhi Nagar Main Road and M.G.R. Nagar Extn, among others, with values ranging from Rs 3,850 to Rs 4,400 per sq.ft in 2024.