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Guideline Value

Corporate

Guideline Value for Maduvankarai Narasingapuram 7th Street

₹4400/sq.ft.

The guideline value for Maduvankarai Narasingapuram 7th 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 7th Street

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Maduvankarai Narasingapuram 7th Street guideline value

The current guideline value of Maduvankarai Narasingapuram 7th 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 7th Street has changed

The guideline value for Maduvankarai Narasingapuram 7th Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, an increase of 10% from the 2023 figure of Rs 4,000 per sq.ft. Prior to that, in 2017, the guideline value was Rs 2,680 per sq.ft, reflecting a significant increase of 49% by 2023. The 2012 revision also recorded a value of Rs 4,000 per sq.ft, which was a decrease of 33% from the 2017 figure.

The register has no figures for the years 2002, 2003, and 2007. Overall, comparing the 2012 figure of Rs 4,000 per sq.ft to the current 2024 value, there has been an increase of 10% over the years.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values 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 equal to the current value of Maduvankarai Narasingapuram 7th Street.

Stamp duty and registration fee for property in Maduvankarai Narasingapuram 7th 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 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 precise calculations.

Which Sub Registrar Office covers Maduvankarai Narasingapuram 7th Street?

The Maduvankarai Narasingapuram 7th Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

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 ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Maduvankarai Narasingapuram 7th Street?

The current guideline value of Maduvankarai Narasingapuram 7th 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 2023 to Rs 4,400 per sq.ft in 2024. It was Rs 2,680 per sq.ft in 2017 and Rs 4,000 per sq.ft in 2012.

What are the stamp duty and registration fees for properties in this area?

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, totaling Rs 3,96,000.

Which office handles registrations for Maduvankarai Narasingapuram 7th Street?

The Velacheri Sub Registrar Office handles registrations for Maduvankarai Narasingapuram 7th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Maduvankarai Narasingapuram 7th Street?

The land classification of Maduvankarai Narasingapuram 7th Street is Residential Class II Type - II.