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Guideline Value

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Guideline Value for Alaiaimman Nagar Main Road 2nd Street

₹2200/sq.ft.

The guideline value for Alaiaimman Nagar Main Road 2nd Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
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 Alaiaimman Nagar Main Road 2nd Street

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Alaiaimman Nagar Main Road 2nd Street guideline value

The current guideline value of Alaiaimman Nagar Main Road 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Alaiaimman Nagar Main Road 2nd Street has changed

The guideline value for Alaiaimman Nagar Main Road 2nd Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is a 10% increase from the 2023 revision of Rs 2,000 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 1,340 per sq.ft, marking a significant 49% increase to the 2023 figure. The overall increase from the 2017 revision to the current 2024 revision is 64%.

It is important to note that the register has no figures for this street for the years 2002, 2003, 2007, and 2012. This lack of data means that the first recorded guideline value for this street was in 2017.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values for 2024 ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing the guideline value of Alaiaimman Nagar Main Road 2nd Street below this median.

Stamp duty and registration fee for property in Alaiaimman Nagar Main Road 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Alaiaimman Nagar Main Road 2nd Street?

The Sub Registrar Office that covers Alaiaimman Nagar Main Road 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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

When buying or selling property in Madipakkam-1, the guideline value is a crucial factor in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Additionally, the guideline value serves as a benchmark for property transactions in the area, providing transparency and a standard reference point for buyers and sellers alike. It is essential to be aware of the current guideline value when engaging in property transactions to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Alaiaimman Nagar Main Road 2nd Street?

The current guideline value of Alaiaimman Nagar Main Road 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the land classification for this street?

The land classification for Alaiaimman Nagar Main Road 2nd Street is Residential Class II Type - I.

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

The Sub Registrar Office covering Alaiaimman Nagar Main Road 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the total stamp duty and registration fees would amount to Rs 1,98,000.