Explore LandLens: verify, value, build-check, track & transact smarter

Guideline Value

Corporate

Guideline Value for Mahalakshmi Nagar Extension/Annai Velankanni Nagar

₹2750/sq.ft.

The guideline value for Mahalakshmi Nagar Extension/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 ₹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 Extension/annai Velankanni Nagar

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Mahalakshmi Nagar Extension/Annai Velankanni Nagar guideline value

The current guideline value of Mahalakshmi Nagar Extension/Annai Velankanni Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Mahalakshmi Nagar Extension/Annai Velankanni Nagar has changed

Over the years, the guideline value for Mahalakshmi Nagar Extension/Annai Velankanni Nagar has seen significant changes. The earliest recorded figure in the register is from the 2017 revision, which was Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision reflects a further increase of 10%, bringing the guideline value to Rs 2,750 per sq.ft, which is a total increase of 64% from 2017 to 2024.

The register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The absence of data for these years indicates that the guideline value was not established or recorded for Mahalakshmi Nagar Extension/Annai Velankanni Nagar during that time.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a guideline value for 2024, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,750 per sq.ft, which is equal to the current value for Mahalakshmi Nagar Extension/Annai Velankanni Nagar.

Stamp duty and registration fee for property in Mahalakshmi Nagar Extension/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, charged at 7%, would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mahalakshmi Nagar Extension/Annai Velankanni Nagar?

The Mahalakshmi Nagar Extension/Annai Velankanni Nagar area 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 when registering 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 revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar Extension/Annai Velankanni Nagar?

The current guideline value of Mahalakshmi Nagar Extension/Annai Velankanni Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 64% over this period.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 27,50,000, the total fees would amount to Rs 2,47,500.

Which office handles registrations for Mahalakshmi Nagar Extension/Annai Velankanni Nagar?

The Velacheri Sub Registrar Office handles registrations for Mahalakshmi Nagar Extension/Annai Velankanni Nagar, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Mahalakshmi Nagar Extension/Annai Velankanni Nagar?

The land classification for Mahalakshmi Nagar Extension/Annai Velankanni Nagar is Residential Class I Type - III, indicating its suitability for residential development.