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Guideline Value

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Guideline Value for Mahalakshmi Nagar 4th Street/Annai Velankanni Nagar

₹2750/sq.ft.

The guideline value for Mahalakshmi Nagar 4th Street/annai Velankanni Nagar 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 N/A
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 Nagar 4th Street/annai Velankanni Nagar

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Mahalakshmi Nagar 4th Street/Annai Velankanni Nagar guideline value

The current guideline value of Mahalakshmi Nagar 4th Street/Annai Velankanni Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village and falls under the Velacheri SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Mahalakshmi Nagar 4th Street/Annai Velankanni Nagar has changed

The guideline value for Mahalakshmi Nagar 4th Street/Annai Velankanni Nagar has seen several revisions over the years. The most recent revision in 2024 set the rate at Rs 2,750 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 2,500 per sq.ft. Prior to these revisions, there are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value increased from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024. This change indicates a significant adjustment in the valuation of properties in this area, aligning with the median guideline value in Madipakkam-1.

Guideline values in Madipakkam-1

Mahalakshmi Nagar 4th Street/Annai Velankanni Nagar's guideline value of Rs 2,750 per sq.ft is equal to the median guideline value in Madipakkam-1, which ranges from Rs 1,650 to Rs 5,500 per sq.ft. Below are the guideline values for other streets in Madipakkam-1 under the Velacheri SRO:

Stamp duty and registration fee for property in Mahalakshmi Nagar 4th Street/Annai Velankanni Nagar

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 fees 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 also use our stamp duty and registration fee calculator for a more accurate estimate.

Which Sub Registrar Office covers Mahalakshmi Nagar 4th Street/Annai Velankanni Nagar?

The Mahalakshmi Nagar 4th Street/Annai Velankanni Nagar falls under the jurisdiction of 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 Madipakkam-1

The guideline value is a critical factor in the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the property is valued accurately according to the local regulations.

When buying or selling property in this area, it is essential to be aware of the current guideline value, as it directly influences the costs associated with the transaction. Buyers should ensure that they are informed about the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar 4th Street?

The current guideline value of Mahalakshmi Nagar 4th Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

The guideline value increased from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase.

What is the land classification for Mahalakshmi Nagar 4th Street?

The land classification for Mahalakshmi Nagar 4th Street is Residential Class I Type - III.

Where is the Velacheri Sub Registrar Office located?

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

What fees are associated with buying property in Mahalakshmi Nagar 4th Street?

When buying property, the stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the guideline value.