Guideline Value

Corporate

Guideline Value for Mahalakshmi Nagar Extn 5th street

₹2750/sq.ft.

The guideline value for Mahalakshmi Nagar Extn 5th 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 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 Extn 5th Street

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Mahalakshmi Nagar Extn 5th street guideline value

The current guideline value of Mahalakshmi Nagar Extn 5th 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 Extn 5th street has changed

The guideline value for Mahalakshmi Nagar Extn 5th street has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the value was Rs 2,500 per sq.ft, which increased by 10% to Rs 2,750 per sq.ft in the 2024 revision.

Prior to the 2023 revision, there are no recorded figures for this street in the register. The last available figure before 2023 was from the 2024 revision, marking a notable increase in the guideline value from the previous year.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 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 is equal to the current guideline value of Mahalakshmi Nagar Extn 5th street.

Stamp duty and registration fee for property in Mahalakshmi Nagar Extn 5th 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, while the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Mahalakshmi Nagar Extn 5th street?

The Mahalakshmi Nagar Extn 5th 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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Madipakkam-1. It serves as a reference point for determining the stamp duty and registration fees applicable when a property is bought or sold.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar Extn 5th street?

The current guideline value of Mahalakshmi Nagar Extn 5th street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, marking a 10% increase. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the classification of Mahalakshmi Nagar Extn 5th street?

Mahalakshmi Nagar Extn 5th street is classified as Residential Class I Type - III under the Velacheri SRO.

What are the stamp duty rates applicable?

The stamp duty rate is set at 7% of the guideline value or the sale price, whichever is higher. This is applicable when registering property in Mahalakshmi Nagar Extn 5th street.

Where can I find the Sub Registrar Office for this area?

The Velacheri Sub Registrar Office, which covers Mahalakshmi Nagar Extn 5th street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.