Guideline Value for MADAMBAKKAM MAIN ROAD

Madambakkam Main Road guideline value

The current guideline value of Madambakkam Main Road is Rs 2,850 per sq.ft, effective from 1 July 2024. This road is located in Chitthalapakkam village and falls under the Selaiyur SRO. The land classification for this area is Mixed Type - I.

How the guideline value of Madambakkam Main Road has changed

Over the years, the guideline value of Madambakkam Main Road has seen several revisions. The 2012 revision set the value at Rs 2,700 per sq.ft, which was then reduced to Rs 1,809 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,700 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,850 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 6% increase. Overall, comparing the 2012 and 2024 revisions, there has been a modest increase of 6% in the guideline value.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft, with a median value of Rs 2,900 per sq.ft. The guideline value of Madambakkam Main Road is below this median.

• Maheswar Nagar: Rs 2,900 per sq.ft (2024)
• Maigai Vinayagar Koil Street: Rs 2,900 per sq.ft (2024)
• Mambakkam Main Road: Rs 3,300 per sq.ft (2024)
• Manju Foundation Street Synnot: Rs 3,180 per sq.ft (2024)
• Manoranjitham Nagar: Rs 3,300 per sq.ft (2024)
• Kp Springs: Rs 3,350 per sq.ft (2024)

Stamp duty and registration fee for property in Madambakkam Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,850 per sq.ft, the total guideline value would be Rs 28,50,000. The stamp duty at 7% would amount to Rs 1,99,500, and the registration fee at 2% would be Rs 57,000. Together, the total fees would be Rs 2,56,500. 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 Madambakkam Main Road?

The Sub Registrar Office that covers Madambakkam Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Chitthalapakkam

The guideline value is a crucial factor when registering property transactions in Chitthalapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value will influence the stamp duty and registration fees that need to be paid. This value helps in maintaining transparency in property transactions and is used by the authorities to assess the correct fees applicable during registration.

Frequently asked questions

What is the current guideline value of Madambakkam Main Road?

The current guideline value of Madambakkam Main Road is Rs 2,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,850 per sq.ft in 2024, marking a 6% increase. It was Rs 1,809 per sq.ft in 2017 and Rs 2,700 per sq.ft in 2012, showing various fluctuations over the years.

What is the land classification for Madambakkam Main Road?

The land classification for Madambakkam Main Road is Mixed Type - I. This classification indicates the type of development and usage permitted in the area.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Madambakkam Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 28,50,000, the stamp duty would be Rs 1,99,500 at a rate of 7%.