Guideline Value

Corporate

Guideline Value for Majit Colony 10th Street

₹4400/sq.ft.

The guideline value for Majit Colony 10th 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 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 Majit Colony 10th Street

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Majit Colony 10th Street guideline value

The current guideline value of Majit Colony 10th 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 Majit Colony 10th Street has changed

The guideline value for Majit Colony 10th Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which is a 10% increase from the 2023 revision of Rs 4,000 per sq.ft. The register has no figure for this street in the years 2017, 2012, 2007, 2003, and 2002.

In the 2023 revision, the value was Rs 4,000 per sq.ft. Prior to this, there are no recorded figures for the years mentioned. The consistent increase in the guideline value reflects the updates made to the register, with the 2024 figure aligning with the median value of Rs 4,400 per sq.ft for residential properties in Velachery.

Guideline values in Velachery

In Velachery, there are 2691 streets under the Velacheri SRO with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the current guideline value for Majit Colony 10th Street.

Stamp duty and registration fee for property in Majit Colony 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 Majit Colony 10th Street?

The Majit Colony 10th Street is covered by 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 Velachery

The guideline value is a crucial factor in property transactions in Velachery, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with legal requirements.

It is essential for buyers and sellers to be aware of the current guideline value to accurately assess the costs involved in property transactions. This value serves as a benchmark for transactions, influencing how much buyers are willing to pay and how sellers price their properties.

Frequently asked questions

What is the current guideline value of Majit Colony 10th Street?

The current guideline value of Majit Colony 10th 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 increased from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024. There are no recorded figures for this street in the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Majit Colony 10th Street?

Majit Colony 10th Street is classified as Residential Class II Type - II, indicating its designation for residential use.

What are the stamp duty and registration fees for a property 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. Duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Majit Colony 10th Street?

The Velacheri Sub Registrar Office handles registrations for Majit Colony 10th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.