Guideline Value

Corporate

Guideline Value for Madhavan Nagar 2nd Street

₹1650/sq.ft.

The guideline value for Madhavan Nagar 2nd Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 1650 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹1650 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Madhavan Nagar 2nd Street

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Madhavan Nagar 2nd Street guideline value

The current guideline value of Madhavan Nagar 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Madhavan Nagar 2nd Street has changed

The guideline value for Madhavan Nagar 2nd Street has seen several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures are from 2023 and 2024, with the 2023 revision set at Rs 1,500 per sq.ft and the 2024 revision increasing to Rs 1,650 per sq.ft, marking a change of +10%.

Prior to the 2023 revision, there were no figures available for the street in the register for the aforementioned years. The guideline value has thus increased from Rs 1,500 in 2023 to Rs 1,650 in 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, which means that Madhavan Nagar 2nd Street's 2024 figure is below that median.

Stamp duty and registration fee for property in Madhavan Nagar 2nd Street

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, resulting in a total of Rs 1,48,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madhavan Nagar 2nd Street?

The Sub Registrar Office that covers Madhavan Nagar 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Madhavan Nagar 2nd Street?

The current guideline value of Madhavan Nagar 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Madhavan Nagar 2nd Street has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, marking a +10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft. Madhavan Nagar 2nd Street's 2024 figure of Rs 1,650 per sq.ft is below this median.

What are the stamp duty and registration fees for properties in Madhavan Nagar 2nd Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Madhavan Nagar 2nd Street located?

The Sub Registrar Office for Madhavan Nagar 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.