Guideline Value

Corporate

Guideline Value for Mahalakshmi Nagar 4th Main road Lane

₹4400/sq.ft.

The guideline value for Mahalakshmi Nagar 4th Main Road Lane 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 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 Nagar 4th Main Road Lane

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Mahalakshmi Nagar 4th Main road Lane guideline value

The current guideline value of Mahalakshmi Nagar 4th Main road Lane 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 Mahalakshmi Nagar 4th Main road Lane has changed

The guideline value for Mahalakshmi Nagar 4th Main road Lane has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,800 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in the 2012 revision, marking a change of +122%. This value remained unchanged in the 2023 revision, where it was still Rs 4,000 per sq.ft. However, the most recent 2024 revision saw an increase to Rs 4,400 per sq.ft, reflecting a +10% change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +144%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a 2024 guideline value 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 for Mahalakshmi Nagar 4th Main road Lane.

Stamp duty and registration fee for property in Mahalakshmi Nagar 4th Main road Lane

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 fees 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 calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalakshmi Nagar 4th Main road Lane?

The Sub Registrar Office that covers Mahalakshmi Nagar 4th Main road Lane 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 of property transactions 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 from stamp duty and registration fees.

When buying or selling property, the guideline value is used to assess the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar 4th Main road Lane?

The current guideline value of Mahalakshmi Nagar 4th Main road Lane 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 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +144% over this period.

What is the land classification for Mahalakshmi Nagar 4th Main road Lane?

Mahalakshmi Nagar 4th Main road Lane is classified as 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 properties in Mahalakshmi Nagar 4th Main road Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000.