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Guideline Value

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Guideline Value for Maduvankarai, Majit Colony 5th Street,

₹4400/sq.ft.

The guideline value for Maduvankarai, Majit Colony 5th 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, Majit Colony 5th Street,

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Maduvankarai, Majit Colony 5th Street, guideline value

The current guideline value for Maduvankarai, Majit Colony 5th 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, Majit Colony 5th Street, has changed

The guideline value for Maduvankarai, Majit Colony 5th Street, has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. However, the latest 2024 revision has increased the guideline value to Rs 4,400 per sq.ft, marking a significant increase of 64% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, 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.

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 value among these streets is Rs 4,400 per sq.ft, which aligns with the current guideline value for Maduvankarai, Majit Colony 5th Street.

Stamp duty and registration fee for property in Maduvankarai, Majit Colony 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 amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maduvankarai, Majit Colony 5th Street,?

The Sub Registrar Office that covers Maduvankarai, Majit Colony 5th 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, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is compared with the sale price to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value for Maduvankarai, Majit Colony 5th Street?

The current guideline value for Maduvankarai, Majit Colony 5th Street, is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has changed from Rs 4,000 per sq.ft to Rs 2,680 per sq.ft in 2017, and then increased to Rs 4,400 per sq.ft in 2024. Overall, this represents a 10% increase from 2012 to 2024.

What is the land classification for Maduvankarai, Majit Colony 5th Street?

The land classification for Maduvankarai, Majit Colony 5th Street, is Residential Class II Type - II.

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

The Sub Registrar Office covering Maduvankarai, Majit Colony 5th Street, is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the stamp duty and registration fees based on the guideline value?

For a property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. The duty is charged on the higher of the guideline value or the sale price.