Guideline Value for Madambakkam Main Road

Madambakkam Main Road guideline value

The current guideline value of Madambakkam Main Road is Rs 4,250 per sq.ft, effective from 1 July 2024. This road is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Madambakkam Main Road has changed

The guideline value for Madambakkam Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 4,000 per sq.ft in the 2023 revision, and currently stands at Rs 4,250 per sq.ft from the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From the 2017 to 2023 revision, the guideline value increased by 49%. The change from 2023 to 2024 reflects a 6% increase. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 6%.

Guideline values in Rajakilpakkam

In Rajakilpakkam village, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median value of Rs 2,150 per sq.ft. The guideline value of Madambakkam Main Road is above this median.

• Madhina Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 2,700 per sq.ft (2024)
• Mahalakshmi Nagar P.T.C. Colony 2nd Street: Rs 2,700 per sq.ft (2024)
• Kundalakesi Street: Rs 1,300 per sq.ft (2024)
• Maniammai 1st Street: Rs 1,300 per sq.ft (2024)
• Maniammai Street: Rs 1,300 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 4,250 per sq.ft, the total guideline value amounts to Rs 42,50,000. The stamp duty at 7% would be Rs 2,97,500, and the registration fee at 2% would be Rs 85,000, making the total cost Rs 3,82,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our 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 Rajakilpakkam

The guideline value is a crucial factor in the registration of property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is particularly important when it comes to calculating the stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Madambakkam Main Road?

The current guideline value of Madambakkam Main Road is Rs 4,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,250 per sq.ft in 2024.

What is the land classification for Madambakkam Main Road?

The land classification for Madambakkam Main Road is Commercial Class I Type - II.

What are the stamp duty and registration fees for properties on this road?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is charged at 2%. For a property valued at Rs 42,50,000, the total fees would be Rs 3,82,500.

Which office handles registrations for Madambakkam Main Road?

The Selaiyur Sub Registrar Office handles registrations for Madambakkam Main Road, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.