Guideline Value for Maduvankarai Narasingapuram 4th Street

Maduvankarai Narasingapuram 4th Street guideline value

The current guideline value of Maduvankarai Narasingapuram 4th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Maduvankarai Narasingapuram 4th Street has changed

The guideline value for Maduvankarai Narasingapuram 4th Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 4,000 per sq.ft. This was followed by a decrease in 2017, where the value dropped to Rs 2,680 per sq.ft, representing a decline of 33%. However, the most recent revision in 2024 shows a significant increase to Rs 4,400 per sq.ft, marking a 64% rise from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available 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, with guideline values for 2024 ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is the same as the current value for Maduvankarai Narasingapuram 4th Street.

• Maduvankarai Narasingapuram 3rd Street: Rs 4,400 per sq.ft (2024)
• Maduvankarai Narasingapuram 5th Street: Rs 4,400 per sq.ft (2024)
• Maduvankarai Narasingapuram 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Maduvankarai Narasingapuram 6th Street: Rs 4,400 per sq.ft (2024)
• Maduvankarai Narasingapuram 2nd Street: Rs 4,400 per sq.ft (2024)
• Maduvankarai Narasingapuram 7th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Maduvankarai Narasingapuram 4th 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, while the registration fee at 2% would be Rs 88,000, bringing the total costs to Rs 3,96,000. Please note that the 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 more details.

Which Sub Registrar Office covers Maduvankarai Narasingapuram 4th Street?

The Maduvankarai Narasingapuram 4th Street falls under the jurisdiction of 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 critical 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 applicable to the transaction.

When you register a property, the applicable duty is calculated based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Maduvankarai Narasingapuram 4th Street?

The current guideline value of Maduvankarai Narasingapuram 4th 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.

What is the land classification of Maduvankarai Narasingapuram 4th Street?

The land classification of Maduvankarai Narasingapuram 4th Street is Residential Class II Type - II.

Where can I find the registration office for this street?

The Velacheri Sub Registrar Office covers Maduvankarai Narasingapuram 4th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Velachery?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.