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Guideline Value

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Guideline Value for Park Avenue 2nd Street, Murugan Syndigate,

₹4400/sq.ft.

The guideline value for Park Avenue 2nd Street, Murugan Syndigate, 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 ₹2680 /sq.ft.
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 Park Avenue 2nd Street, Murugan Syndigate,

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Park Avenue 2nd Street, Murugan Syndigate, guideline value

The current guideline value of Park Avenue 2nd Street, Murugan Syndigate, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Park Avenue 2nd Street, Murugan Syndigate, has changed

Over the years, the guideline value of Park Avenue 2nd Street, Murugan Syndigate, has seen several revisions. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, an increase from Rs 4,000 per sq.ft in 2023, marking a change of +10%. The 2023 revision had already seen a significant increase of +49% from Rs 2,680 per sq.ft in 2017. Prior to that, in 2012, the guideline value was Rs 4,000 per sq.ft, which represented a decrease of -33% from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by +10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry 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 equal to the current guideline value of Park Avenue 2nd Street.

Stamp duty and registration fee for property in Park Avenue 2nd Street, Murugan Syndigate,

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to 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, totaling Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Park Avenue 2nd Street, Murugan Syndigate,?

The Sub Registrar Office that covers Park Avenue 2nd Street, Murugan Syndigate, 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 a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty and registration fees. This ensures that all transactions are conducted fairly and transparently, in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Park Avenue 2nd Street, Murugan Syndigate?

The current guideline value of Park Avenue 2nd Street, Murugan Syndigate, 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 2023 to Rs 4,400 per sq.ft in 2024, a +10% increase. It was Rs 2,680 per sq.ft in 2017 and Rs 4,000 per sq.ft in 2012.

What is the land classification for Park Avenue 2nd Street?

The land classification for Park Avenue 2nd Street is Residential Class II Type - II.

What are the stamp duty and registration fees for 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.

Which office handles registrations for this street?

The Velacheri Sub Registrar Office handles registrations for Park Avenue 2nd Street, Murugan Syndigate, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.