Guideline Value for MKN Road, Subba Reddy Lane

MKN Road, Subba Reddy Lane guideline value

The current guideline value of MKN Road, Subba Reddy Lane 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. The land classification for this area is Residential Class II Type - III.

How the guideline value of MKN Road, Subba Reddy Lane has changed

The guideline value for MKN Road, Subba Reddy Lane has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 3,500 per sq.ft. The most recent revision in 2024 increased this figure to Rs 3,850 per sq.ft, marking a change of +10% from the 2012 figure.

There are no recorded figures for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street. The current rate of Rs 3,850 per sq.ft is below the median guideline value of Rs 4,400 per sq.ft for the 2,691 streets in Velachery under the Velacheri SRO.

Guideline values in Velachery

In Velachery, the guideline values range from Rs 3,300 to Rs 13,200 per sq.ft as of 2024. The median value is Rs 4,400 per sq.ft, and MKN Road, Subba Reddy Lane is positioned below this median.

• MKN Road: Rs 3,850 per sq.ft (2024)
• M.Lakshmi Hygrieva Nagar: Rs 3,850 per sq.ft (2024)
• Mohanapuri: Rs 4,400 per sq.ft (2024)
• Mohanapuri 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Mohanapuri 1st Main Road: Rs 4,400 per sq.ft (2024)
• Mohanapuri 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in MKN Road, Subba Reddy Lane

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

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

Which Sub Registrar Office covers MKN Road, Subba Reddy Lane?

The Sub Registrar Office that covers MKN Road, Subba Reddy Lane 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 information.

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

The guideline value is a crucial factor during property registration in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of MKN Road, Subba Reddy Lane?

The current guideline value of MKN Road, Subba Reddy Lane is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, reflecting a change of +10%.

Are there any years without a recorded guideline value for this street?

Yes, there are no recorded figures for the revisions in 2023, 2017, 2007, 2003, and 2002 for MKN Road, Subba Reddy Lane.

What is the median guideline value for streets in Velachery?

The median guideline value for the 2,691 streets in Velachery under the Velacheri SRO is Rs 4,400 per sq.ft.

Where can I find the Sub Registrar Office for MKN Road, Subba Reddy Lane?

The Sub Registrar Office for MKN Road, Subba Reddy Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.