Guideline Value for Kusavan Kulam/Madipakkam Main Road

Kusavan Kulam/Madipakkam Main Road guideline value

The current guideline value of Kusavan Kulam/Madipakkam Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Commercial Class I Type - I land classification.

How the guideline value of Kusavan Kulam/Madipakkam Main Road has changed

The guideline value register for Kusavan Kulam/Madipakkam Main Road has undergone several revisions over the years. However, the register has no figure for this street in the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft.

There have been no changes between the revisions mentioned above. The current figure of Rs 5,500 per sq.ft reflects the latest assessment as of July 2024.

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, with a median value of Rs 2,750 per sq.ft. Kusavan Kulam/Madipakkam Main Road's 2024 figure is notably above this median.

• Kuyavan Kuttai: Rs 1,650 per sq.ft (2024)
• Kuyavan Kuttai Cross Street: Rs 1,650 per sq.ft (2024)
• Kuppusamy Street/Ramalinga Nagar: Rs 2,750 per sq.ft (2024)
• Kuppusamy Street Cross: Rs 2,750 per sq.ft (2024)
• Kuppusamy Street: Rs 2,750 per sq.ft (2024)
• Kuppusamy Nagar Extn: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kusavan Kulam/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 would be Rs 55,00,000. The stamp duty at 7% would amount to 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kusavan Kulam/Madipakkam Main Road?

The Sub Registrar Office that covers Kusavan Kulam/Madipakkam Main Road is 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 plays a crucial role during property transactions in Madipakkam-1, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value is used to assess the transaction's legitimacy and to calculate the necessary fees. It is essential for both parties to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kusavan Kulam/Madipakkam Main Road?

The current guideline value of Kusavan Kulam/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 register for this street has no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft.

What is the land classification for Kusavan Kulam/Madipakkam Main Road?

Kusavan Kulam/Madipakkam Main Road falls under the Commercial Class I Type - I land classification.

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 Madipakkam-1?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 55,00,000, the stamp duty at 7% would be Rs 3,85,000.