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Guideline Value

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Guideline Value for Maduvankarai Narasingapuram 2nd Cross Street

₹4400/sq.ft.

The guideline value for Maduvankarai Narasingapuram 2nd Cross 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 Narasingapuram 2nd Cross Street

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Maduvankarai Narasingapuram 2nd Cross Street guideline value

The current guideline value of Maduvankarai Narasingapuram 2nd Cross 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 Narasingapuram 2nd Cross Street has changed

The guideline value for Maduvankarai Narasingapuram 2nd Cross Street has seen several revisions over the years. In 2012, the guideline value was Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in the 2017 revision. However, the 2024 revision marked a significant increase, bringing the value back up to Rs 4,400 per sq.ft, which is a 64% increase from 2017. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2023 for this street. The changes in guideline values reflect the adjustments made during the specified years, showcasing the fluctuations in property valuation.

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 guideline value in this area is Rs 4,400 per sq.ft, which is equal to the current value of Maduvankarai Narasingapuram 2nd Cross Street.

Stamp duty and registration fee for property in Maduvankarai Narasingapuram 2nd Cross 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 at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator to estimate fees for your property transaction.

Which Sub Registrar Office covers Maduvankarai Narasingapuram 2nd Cross Street?

The Sub Registrar Office that covers Maduvankarai Narasingapuram 2nd Cross 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 minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Maduvankarai Narasingapuram 2nd Cross Street?

The current guideline value of Maduvankarai Narasingapuram 2nd Cross 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, showing a 64% increase from 2017.

What is the land classification for this street?

The land classification for Maduvankarai Narasingapuram 2nd Cross Street is Residential Class II Type - II, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Maduvankarai Narasingapuram 2nd Cross Street 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 and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000.