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Guideline Value

Corporate

Guideline Value for Maduvankarai Narasingapuram 5th Street

₹4400/sq.ft.

The guideline value for Maduvankarai Narasingapuram 5th Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. 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 ₹4000 /sq.ft.
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 5th Street

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Maduvankarai Narasingapuram 5th Street guideline value

The current guideline value of Maduvankarai Narasingapuram 5th 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 5th Street has changed

The guideline value for Maduvankarai Narasingapuram 5th Street has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 2,680 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007. The value increased to Rs 4,000 per sq.ft again in 2012, followed by a significant rise of 49% to Rs 4,000 per sq.ft in 2023. The most recent revision in 2024 has seen a further increase of 10%, bringing the current guideline value to Rs 4,400 per sq.ft.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The consistent rise in the value highlights the changes in the real estate landscape in this area over the years.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Maduvankarai Narasingapuram 5th Street.

Stamp duty and registration fee for property in Maduvankarai Narasingapuram 5th 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 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 also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Maduvankarai Narasingapuram 5th Street?

The Maduvankarai Narasingapuram 5th Street falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of properties 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 through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it may influence the transaction price. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential legal issues during registration.

Frequently asked questions

What is the current guideline value of Maduvankarai Narasingapuram 5th Street?

The current guideline value of Maduvankarai Narasingapuram 5th 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, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Maduvankarai Narasingapuram 5th Street?

The land classification for Maduvankarai Narasingapuram 5th Street is Residential Class II Type - II.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for property transactions?

Stamp duty is 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 at a rate of 7%.