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Guideline Value

Corporate

Guideline Value for Dr. Ambedkar Street/Rajarajeswari Nagar

₹2750/sq.ft.

The guideline value for Dr. Ambedkar Street/rajarajeswari Nagar in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1675 /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 Dr. Ambedkar Street/rajarajeswari Nagar

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Dr. Ambedkar Street/Rajarajeswari Nagar guideline value

The current guideline value of Dr. Ambedkar Street/Rajarajeswari Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Dr. Ambedkar Street/Rajarajeswari Nagar has changed

The guideline value for Dr. Ambedkar Street/Rajarajeswari Nagar has seen several revisions over the years. The oldest revision listed is from 2017, where the value was Rs 1,675 per sq.ft. The most recent revision in 2024 increased the value to Rs 2,750 per sq.ft, marking a significant change of +64% from the 2017 figure.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street. Thus, the only figures relevant to the current valuation are from the 2017 and 2024 revisions.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 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 equal to the guideline value of Dr. Ambedkar Street/Rajarajeswari Nagar.

Stamp duty and registration fee for property in Dr. Ambedkar Street/Rajarajeswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Ambedkar Street/Rajarajeswari Nagar?

The Sub Registrar Office covering Dr. Ambedkar Street/Rajarajeswari Nagar 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 Madipakkam-1

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value serves as a benchmark to ensure that the sale price is not undervalued for tax purposes. This helps maintain transparency in property transactions and ensures that the government receives appropriate revenue from stamp duties.

Frequently asked questions

What is the current guideline value for Dr. Ambedkar Street/Rajarajeswari Nagar?

The current guideline value for Dr. Ambedkar Street/Rajarajeswari Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since the last revision?

Since the last revision in 2017, the guideline value has increased by +64%, from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft in 2024.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is the same as the guideline value for Dr. Ambedkar Street/Rajarajeswari Nagar.

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

The Sub Registrar Office for Dr. Ambedkar Street/Rajarajeswari Nagar 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 guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.