Guideline Value for Bharathiyar Salai,Mahalakshmi Nagar Main Road

Bharathiyar Salai,Mahalakshmi Nagar Main Road guideline value

The current guideline value of Bharathiyar Salai,Mahalakshmi Nagar Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village and falls under the Velacheri SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Bharathiyar Salai,Mahalakshmi Nagar Main Road has changed

The guideline value for Bharathiyar Salai,Mahalakshmi Nagar Main Road has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 1,675 per sq.ft. This figure increased to Rs 2,750 per sq.ft in the 2024 revision, marking a change of +64% from the previous figure.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street in the register. The current value reflects the latest revision, aligning with the median value for similar streets in the area.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is the same as the guideline value for Bharathiyar Salai,Mahalakshmi Nagar Main Road.

• Bharathiyar Salai, Mahalakshmi Nagar: Rs 2,750 per sq.ft (2024)
• Bharathiyar Road: Rs 2,200 per sq.ft (2024)
• Bharathiyar Nagar/Mahalakshmi Nagar: Rs 2,750 per sq.ft (2024)
• Bharath Street/Thilagar Avenue: Rs 3,300 per sq.ft (2024)
• Bharat Street: Rs 2,200 per sq.ft (2024)
• Bhuvaneshwari Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Salai,Mahalakshmi Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Bharathiyar Salai,Mahalakshmi Nagar Main Road?

The Bharathiyar Salai,Mahalakshmi Nagar Main Road is covered by 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 a crucial factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathiyar Salai,Mahalakshmi Nagar Main Road?

The current guideline value of Bharathiyar Salai,Mahalakshmi Nagar Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, which is a change of +64%.

What is the land classification for this area?

The land classification for Bharathiyar Salai,Mahalakshmi Nagar Main Road is Residential Class I Type - III.

Where can I find the registration office for this area?

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

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty at 7% would amount to Rs 1,92,500.