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Guideline Value

Corporate

Guideline Value for Maduvankarai (Puthu Street)

₹4400/sq.ft.

The guideline value for Maduvankarai (puthu Street) in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. 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 N/A
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 Maduvankarai (puthu Street)

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Maduvankarai (Puthu Street) guideline value

The current guideline value of Maduvankarai (Puthu Street) is Rs 4,400 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 - II.

How the guideline value of Maduvankarai (Puthu Street) has changed

The guideline value for Maduvankarai (Puthu Street) has undergone several revisions over the years. In 2012, the value was Rs 4,000 per sq.ft, which decreased to Rs 2,680 per sq.ft in 2017, marking a decline of 33%. However, the most recent revision in 2024 saw a significant increase to Rs 4,400 per sq.ft, reflecting a rise of 64% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value. The values range from Rs 3,300 to Rs 13,200 per sq.ft, with the median being Rs 4,400 per sq.ft. Maduvankarai (Puthu Street) has a 2024 guideline value that matches this median.

Stamp duty and registration fee for property in Maduvankarai (Puthu Street)

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, charged at 7%, would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Maduvankarai (Puthu Street)?

The Sub Registrar Office that covers Maduvankarai (Puthu Street) 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 in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. The value is set by the government and is regularly revised to reflect current market conditions.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, aligning with the established guideline values.

Frequently asked questions

What is the current guideline value of Maduvankarai (Puthu Street)?

The current guideline value of Maduvankarai (Puthu Street) is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, and then increased to Rs 4,400 per sq.ft in 2024. This reflects a decrease of 33% from 2012 to 2017 and an increase of 64% from 2017 to 2024.

What are the stamp duty and registration fees for property in Maduvankarai (Puthu Street)?

The stamp duty for a property valued at Rs 44,00,000 would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Maduvankarai (Puthu Street)?

The Velacheri Sub Registrar Office covers Maduvankarai (Puthu Street). It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

Are there other streets in Velachery with the same guideline value?

Yes, there are several other streets in Velachery that share the same guideline value of Rs 4,400 per sq.ft for 2024. These include Maduvankarai (Pillaiyar Koil Street), Maduvankarai Sengeniamman Koil 1st Street, Maduvankarai New Street, Maduvankarai Sengeniamman Koil 2nd Street, Maduvankarai Narasingapuram Main Road, and Maduvankarai Sengeniamman Koil 3rd Street.