Guideline Value for Daniel Street

Daniel Street guideline value

The current guideline value of Daniel Street in Madipakkam-1 village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Velacheri SRO and is classified as Residential Class II Type - I.

How the guideline value of Daniel Street has changed

The guideline value for Daniel Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the 2023 revision of Rs 2,000 per sq.ft. Notably, the register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the guideline value for Daniel Street was not recorded in the register for the aforementioned years. The 2024 figure is below the median guideline value of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1 under the Velacheri SRO.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Daniel Street's 2024 figure of Rs 2,200 per sq.ft is below this median. Below are the guideline values for other streets in Madipakkam-1:

• Daniel Street/Kanmalar Pon Nagar: Rs 2,750 per sq.ft (2024)
• David George 1st Lane: Rs 2,750 per sq.ft (2024)
• David George 2nd Lane: Rs 2,750 per sq.ft (2024)
• David George 3rd Lane: Rs 2,750 per sq.ft (2024)
• David George Cross Street: Rs 2,750 per sq.ft (2024)
• David George Cross Street/Thilagar Avenue: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Daniel 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, bringing the total fees to 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Daniel Street?

Daniel Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Madipakkam-1. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory during the registration process. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Daniel Street?

The current guideline value of Daniel Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision of Rs 2,000 per sq.ft, the guideline value increased by 10% to Rs 2,200 per sq.ft in 2024.

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

The guideline values for other streets in Madipakkam-1 range from Rs 2,750 to Rs 3,300 per sq.ft, with Daniel Street being below the median value of Rs 2,750 per sq.ft.

Where can I find the Velacheri Sub Registrar Office?

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

How is stamp duty calculated for properties in Daniel Street?

Stamp duty for properties in Daniel Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000.