Guideline Value for MADURAIPAKKAM ROAD

Maduraipakkam Road guideline value

The current guideline value of Maduraipakkam Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This road is located in Moolacheri village and falls under the Pallavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Maduraipakkam Road has changed

The guideline value for Maduraipakkam Road has seen significant changes over the years. In 2007, the guideline value was Rs 80 per sq.ft. This figure rose dramatically to Rs 1,500 per sq.ft in 2012, marking an increase of 1,775%. However, between 2012 and 2017, the value decreased to Rs 1,005 per sq.ft, a drop of 33%. The value then increased again to Rs 1,500 per sq.ft in 2023, showing a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1,963%.

Guideline values in Moolacheri

Moolacheri village has 17 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,710 per sq.ft, placing Maduraipakkam Road's 2024 figure below that median.

• M R Nagar: Rs 2,710 per sq.ft (2024)
• Kamacthi Street: Rs 1,100 per sq.ft (2024)
• Jones Serene Avenue Extension: Rs 4,400 per sq.ft (2024)
• Pearl Garden: Rs 3,410 per sq.ft (2024)
• Raj Garden: Rs 2,530 per sq.ft (2024)
• Dharani Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Maduraipakkam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maduraipakkam Road?

The Sub Registrar Office that covers Maduraipakkam Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Moolacheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the actual sale price. This ensures that all transactions are fairly assessed and documented according to the established guidelines.

Frequently asked questions

What is the current guideline value of Maduraipakkam Road?

The current guideline value of Maduraipakkam Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 80 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 1,963%.

What is the registration office for Maduraipakkam Road?

The registration office for Maduraipakkam Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties on Maduraipakkam Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.

What are the guideline values for other streets in Moolacheri?

Other streets in Moolacheri have varying guideline values ranging from Rs 1,100 to Rs 4,400 per sq.ft, with a median value of Rs 2,710 per sq.ft.