Guideline Value

Corporate

Guideline Value for Mahalakshmi Nagar 4th Street

₹4400/sq.ft.

The guideline value for Mahalakshmi Nagar 4th 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 ₹2680 /sq.ft.
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 ₹344 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹307 /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 4th Street

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Mahalakshmi Nagar 4th Street guideline value

The current guideline value of Mahalakshmi Nagar 4th 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 Mahalakshmi Nagar 4th Street has changed

Over the years, the guideline value of Mahalakshmi Nagar 4th Street has seen significant changes. In the 2002 revision, the guideline value was Rs 307 per sq.ft, which increased to Rs 344 per sq.ft in 2003. Following this, the value experienced a substantial rise to Rs 1,800 per sq.ft in 2007, and then it further increased to Rs 4,000 per sq.ft in 2012. However, there was a decrease to Rs 2,680 per sq.ft in the 2017 revision. The value then rose again to Rs 4,000 per sq.ft in 2023, culminating in the current guideline value of Rs 4,400 per sq.ft in 2024.

The changes between these revisions reflect a variety of increases and decreases. From 2002 to 2024, the overall increase in guideline value is 1,333%. Notably, the increase from 2023 to 2024 is 10%, while the rise from 2017 to 2023 was 49%. The most significant increase occurred between 2003 and 2007, with a rise of 423%.

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 is Rs 4,400 per sq.ft, which aligns with the guideline value of Mahalakshmi Nagar 4th Street.

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

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty is calculated at 7%, which totals Rs 3,08,000, and the registration fee at 2% amounts to Rs 88,000. Together, these fees total Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mahalakshmi Nagar 4th Street?

The Sub Registrar Office that covers Mahalakshmi Nagar 4th 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

When buying or selling property in Velachery, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used to assess the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value as it directly affects the costs associated with property registration. Proper understanding of these values can help in budgeting for the overall expenses involved in property transactions.

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 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, with the most recent increase being 10% from 2023 to 2024. The overall increase from 2002 to 2024 is 1,333%.

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

Mahalakshmi Nagar 4th Street is classified as Residential Class II Type - II, indicating its designation for residential use.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles the registration for Mahalakshmi Nagar 4th Street?

The Velacheri Sub Registrar Office handles the registration for Mahalakshmi Nagar 4th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.