Guideline Value for Madambakkam Main Road

Madambakkam Main Road guideline value

The current guideline value of Madambakkam Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village under the Selaiyur SRO, classified as Commercial Class I Type - I.

How the guideline value of Madambakkam Main Road has changed

Over the years, the guideline value for Madambakkam Main Road has seen several revisions. The oldest recorded figure is from 2012, where the guideline value was Rs 2,500 per sq.ft. This was followed by a drop to Rs 1,675 per sq.ft in the 2017 revision. The most recent revision in 2024 has increased the value to Rs 2,750 per sq.ft.

From 2017 to 2024, there has been a significant increase of 64%. However, the value dropped by 33% from 2012 to 2017. Overall, comparing the values from 2012 to 2024, there has been a modest increase of 10%. The register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 2,400 per sq.ft, placing Madambakkam Main Road above this median at Rs 2,750 per sq.ft.

• Madambakkam-Nuthancheri Main Road: Rs 2,200 per sq.ft (2024)
• Madambakkam Sudalai Salai: Rs 2,200 per sq.ft (2024)
• Mada Veethi Street: Rs 1,700 per sq.ft (2024)
• Mada Vilaga Street: Rs 1,100 per sq.ft (2024)
• Madha Street: Rs 1,100 per sq.ft (2024)
• Madhura Nuthanchery: Rs 2,200 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 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

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 Madambakkam

The guideline value is a crucial factor in property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Madambakkam Main Road?

The current guideline value of Madambakkam Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,750 per sq.ft in 2024.

What is the land classification of Madambakkam Main Road?

Madambakkam Main Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for property in Madambakkam Main Road?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Madambakkam Main Road 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.