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Guideline Value

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Guideline Value for Subba Reddy Lane, MKN Road,

₹3850/sq.ft.

The guideline value for Subba Reddy Lane, Mkn Road, in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /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 Subba Reddy Lane, Mkn Road,

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Subba Reddy Lane, MKN Road, guideline value

The current guideline value of Subba Reddy Lane, MKN Road, is Rs 3,850 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 - III.

How the guideline value of Subba Reddy Lane, MKN Road, has changed

The guideline value for Subba Reddy Lane has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in the 2017 revision. However, the most recent revision in 2024 saw a significant increase to Rs 3,850 per sq.ft, marking a 64% rise from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no available figures for the guideline value of Subba Reddy Lane for the years 2002, 2003, 2007, and 2023. This lack of data indicates that the street's value may not have been assessed during those revisions.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values 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, placing Subba Reddy Lane's 2024 figure below this median.

Stamp duty and registration fee for property in Subba Reddy Lane, MKN Road,

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Subba Reddy Lane, MKN Road,?

The Sub Registrar Office covering Subba Reddy Lane 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 property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions comply with local regulations.

It is essential for buyers and sellers to be aware of the guideline value, as it can impact the overall cost of purchasing property. Understanding these values helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Subba Reddy Lane?

The current guideline value of Subba Reddy Lane, MKN Road, is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,850 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024 and a 10% overall increase from 2012 to 2024.

Are there any years without a guideline value for this street?

Yes, there are no available figures for the guideline value of Subba Reddy Lane for the years 2002, 2003, 2007, and 2023.

What is the stamp duty rate in Chennai?

The stamp duty rate in Chennai is 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where is the Sub Registrar Office for Subba Reddy Lane located?

The Sub Registrar Office for Subba Reddy Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.