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Guideline Value

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Guideline Value for Majit Colony 11th Street, Maduvankarai

₹4400/sq.ft.

The guideline value for Majit Colony 11th Street, Maduvankarai 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 ₹4000 /sq.ft.
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 11th Street, Maduvankarai

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Majit Colony 11th Street, Maduvankarai guideline value

The current guideline value for Majit Colony 11th Street, Maduvankarai 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 11th Street, Maduvankarai has changed

In the 2012 revision, the guideline value was set at Rs 4,000 per sq.ft. This figure remained unchanged in the 2023 revision, but a new revision in 2024 increased the guideline value to Rs 4,400 per sq.ft, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no recorded figures for the years 2002, 2003, 2007, and 2017 for this street, indicating that the register has no figure for these years.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is the same as the current value for Majit Colony 11th Street.

Stamp duty and registration fee for property in Majit Colony 11th Street, Maduvankarai

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value is Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Majit Colony 11th Street, Maduvankarai?

The Sub Registrar Office covering Majit Colony 11th Street, Maduvankarai 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

The guideline value is an essential factor in property transactions in Velachery, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value when negotiating sale prices, as the registration office will assess the property based on this value.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Majit Colony 11th Street, Maduvankarai?

The current guideline value for Majit Colony 11th Street, Maduvankarai 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 from Rs 4,000 per sq.ft in 2012 to Rs 4,000 per sq.ft in 2023, and then increased to Rs 4,400 per sq.ft in 2024. Overall, there has been a 10% increase from 2012 to 2024.

What are the registration fees for properties in this area?

The registration fees for properties in Majit Colony 11th Street are calculated based on the guideline value. For example, 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.

Which Sub Registrar Office should I go to for property registration?

The Velacheri Sub Registrar Office covers Majit Colony 11th Street, Maduvankarai. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value serves as a benchmark for property registration in Velachery. It is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.