Guideline Value for MAINROAD

Mainroad guideline value

The current guideline value of Mainroad in Kelambakkam village, under the Thiruporur SRO, is Rs 2,500 per sq.ft as per the 2023 revision. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Mainroad has changed

The guideline value for Mainroad has seen various revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. However, this figure remained unchanged until the 2017 revision, where it dropped to Rs 1,675 per sq.ft, marking a decrease of 33%. The most recent revision in 2023 brought the value back up to Rs 2,500 per sq.ft, representing an increase of 49% from 2017.

Overall, from the 2012 revision to the 2023 revision, the guideline value has remained the same at Rs 2,500 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2024 for this street.

Guideline values in Kelambakkam

Currently, there are no specific guideline values available for other streets in Kelambakkam. The guideline value for Mainroad is Rs 2,500 per sq.ft as of the 2023 revision.

Stamp duty and registration fee for property in Mainroad

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total cost to Rs 2,25,000. It is essential to note that the 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 Mainroad?

Mainroad falls under the Thiruporur Sub Registrar Office located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Kelambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling a property, the guideline value is used to calculate stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

During registration, if the sale price of the property is higher than the guideline value, the duty will be charged on the sale price instead. This ensures that the government receives appropriate revenue from property transactions, regardless of market fluctuations.

Frequently asked questions

What is the current guideline value of Mainroad?

The current guideline value of Mainroad is Rs 2,500 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then back to Rs 2,500 per sq.ft in 2023. This reflects a decrease of 33% from 2012 to 2017 and an increase of 49% from 2017 to 2023.

What are the stamp duty and registration fees for property in Mainroad?

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000. These fees are calculated based on the guideline value or sale price, whichever is higher.

Which office handles registrations for Mainroad?

The Thiruporur Sub Registrar Office handles registrations for Mainroad. It is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

Is there a guideline value for other streets in Kelambakkam?

Currently, there are no specific guideline values available for other streets in Kelambakkam. The only available figure is for Mainroad, which is Rs 2,500 per sq.ft as of the 2023 revision.