Guideline Value

Corporate

Guideline Value for Mahalakshmi Nagar 4th street

₹2750/sq.ft.

The guideline value for Mahalakshmi Nagar 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 Nagar 4th Street

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Mahalakshmi Nagar 4th street guideline value

The current guideline value of Mahalakshmi Nagar 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, classified as Residential Class I Type - III.

How the guideline value of Mahalakshmi Nagar 4th street has changed

The guideline value for Mahalakshmi Nagar 4th street has seen significant changes over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision. The most recent revision in 2024 brought the guideline value to Rs 2,750 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 64%.

Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, highlighting a substantial rise in the guideline value over this period.

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 value is Rs 2,750 per sq.ft, which aligns with the guideline value for 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 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 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalakshmi Nagar 4th street?

The Mahalakshmi Nagar 4th street falls under 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 details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Buyers should consider this value alongside the sale price to ensure compliance with registration regulations.

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 much has the guideline value changed recently?

From the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The increase from the 2023 revision to the 2024 revision is 10%.

Where can I find the registration office for Mahalakshmi Nagar 4th street?

The registration office covering Mahalakshmi Nagar 4th street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the stamp duty rate for properties in Mahalakshmi Nagar 4th street?

The stamp duty rate for properties in Mahalakshmi Nagar 4th street is 7% of the guideline value or the sale price, whichever is higher.

What other streets have the same guideline value in Madipakkam-1?

Other streets in Madipakkam-1 with the same guideline value of Rs 2,750 per sq.ft include Mahalakshmi Nagar 2nd Street, 3rd Street, 5th Street, 6th Street, and 7th Street.