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Guideline Value

Corporate

Guideline Value for Bharathiar Salai/Madipakkam Main Road

₹5500/sq.ft.

The guideline value for Bharathiar Salai/madipakkam Main Road in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 5500 per sq.ft, effective 1 July 2024. It was Rs 5000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹5500 /sq.ft.
From 1-4-2023 ₹5000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3350 /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 Bharathiar Salai/madipakkam Main Road

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Bharathiar Salai/Madipakkam Main Road guideline value

The current guideline value of Bharathiar Salai/Madipakkam Main Road is Rs 5,500 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 Commercial Class I Type - I.

How the guideline value of Bharathiar Salai/Madipakkam Main Road has changed

The guideline value for Bharathiar Salai/Madipakkam Main Road has seen significant changes over the years. In the 2017 revision, the value was Rs 3,350 per sq.ft, which increased to Rs 5,000 per sq.ft in the 2023 revision. The latest revision in 2024 has raised the guideline value to Rs 5,500 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no recorded figures for this street in the revisions from 2002, 2003, 2007, and 2012. The substantial increase from Rs 3,350 to Rs 5,500 per sq.ft reflects the changes in the real estate landscape over the years.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with the 2024 guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the area is Rs 2,750 per sq.ft, placing Bharathiar Salai/Madipakkam Main Road's 2024 figure above this median.

Stamp duty and registration fee for property in Bharathiar Salai/Madipakkam Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiar Salai/Madipakkam Main Road?

The Sub Registrar Office that covers Bharathiar Salai/Madipakkam Main Road 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 details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, understanding the guideline value helps ensure compliance with legal requirements and accurate financial planning. Buyers and sellers should be aware of the current guideline values to make informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Bharathiar Salai/Madipakkam Main Road?

The current guideline value of Bharathiar Salai/Madipakkam Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,350 per sq.ft in 2017 to Rs 5,500 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the other streets in Madipakkam-1 and their guideline values?

Other streets in Madipakkam-1 include Bharathiar Salai, Mahalakshi Nagar at Rs 2,750 per sq.ft, Bharathiar Street at Rs 2,200 per sq.ft, and several streets in Bhagirathi Nagar at Rs 3,850 per sq.ft.

What fees are associated with the purchase of property in Bharathiar Salai/Madipakkam Main Road?

When purchasing property, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Bharathiar Salai/Madipakkam Main Road?

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