Guideline Value

Corporate

Guideline Value for Mahalakshmi Nagar 3rd Street

₹4400/sq.ft.

The guideline value for Mahalakshmi Nagar 3rd 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 N/A
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹312 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹235 /sq.ft.
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 Nagar 3rd Street

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Mahalakshmi Nagar 3rd Street guideline value

The current guideline value of Mahalakshmi Nagar 3rd 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 Mahalakshmi Nagar 3rd Street has changed

The guideline value for Mahalakshmi Nagar 3rd Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 235 per sq.ft. This increased to Rs 312 per sq.ft in 2003, marking a change of +33%. The value saw a significant rise to Rs 1,800 per sq.ft in 2007, which was an increase of +477%. In 2012, the guideline value remained at Rs 4,000 per sq.ft, showing no change from the previous revision. The 2023 revision also retained this value of Rs 4,000 per sq.ft. However, in the latest 2024 revision, the guideline value has increased to Rs 4,400 per sq.ft, reflecting a growth of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1,772%. It is important to note that there is no figure available for Mahalakshmi Nagar 3rd Street in the 2017 revision.

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 for these streets is Rs 4,400 per sq.ft, which is equal to the guideline value of Mahalakshmi Nagar 3rd Street.

Stamp duty and registration fee for property in Mahalakshmi Nagar 3rd 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, 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.

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

Which Sub Registrar Office covers Mahalakshmi Nagar 3rd Street?

The Mahalakshmi Nagar 3rd Street falls under 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 is a critical factor in the registration process when buying or selling property in Velachery. It serves as the basis for calculating the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar 3rd Street?

The current guideline value of Mahalakshmi Nagar 3rd 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 increased from Rs 235 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +1,772%.

Is there a guideline value for Mahalakshmi Nagar 3rd Street in 2017?

No, the register has no figure for Mahalakshmi Nagar 3rd Street in the 2017 revision.

What is the stamp duty rate for properties in Mahalakshmi Nagar 3rd Street?

The stamp duty rate for properties in Mahalakshmi Nagar 3rd Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mahalakshmi Nagar 3rd Street?

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