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Guideline Value

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Guideline Value for Mahalakshmi (Sri) Nagar Extension 4th Street

₹2750/sq.ft.

The guideline value for Mahalakshmi (sri) Nagar Extension 4th Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
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 Mahalakshmi (sri) Nagar Extension 4th Street

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Mahalakshmi (Sri) Nagar Extension 4th Street guideline value

The current guideline value of Mahalakshmi (Sri) Nagar Extension 4th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class I Type - III.

How the guideline value of Mahalakshmi (Sri) Nagar Extension 4th Street has changed

The guideline value for Mahalakshmi (Sri) Nagar Extension 4th Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,500 per sq.ft. Prior to that, in 2017, the value was Rs 1,675 per sq.ft, marking a significant increase of 49% to reach the 2023 figure. The overall increase from the 2017 revision to the current 2024 figure is 64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The absence of data for these years means that the changes in guideline value prior to 2017 are not documented.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, which is the same as the current value for Mahalakshmi (Sri) Nagar Extension 4th Street.

Stamp duty and registration fee for property in Mahalakshmi (Sri) Nagar Extension 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mahalakshmi (Sri) Nagar Extension 4th Street?

The Mahalakshmi (Sri) Nagar Extension 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 Madipakkam-1

The guideline value plays a crucial role during the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that transactions are recorded at a fair value.

When buying or selling property, the guideline value will be used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value for Mahalakshmi (Sri) Nagar Extension 4th Street?

The current guideline value for Mahalakshmi (Sri) Nagar Extension 4th Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 64%. The most recent revision in 2024 saw a 10% increase from the previous year's value of Rs 2,500 per sq.ft.

What is the land classification for this street?

The land classification for Mahalakshmi (Sri) Nagar Extension 4th Street is Residential Class I Type - III, indicating its suitability for residential development.

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

For a property valued at Rs 27,50,000, the stamp duty is calculated at 7%, amounting to Rs 1,92,500, and the registration fee at 2% is Rs 55,000. Together, these fees total Rs 2,47,500.

Which Sub Registrar Office covers this area?

The Velacheri Sub Registrar Office covers Mahalakshmi (Sri) Nagar Extension 4th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.