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Guideline Value

Corporate

Guideline Value for Madhura Street (Sri Balaji Nagar)

₹3850/sq.ft.

The guideline value for Madhura Street (sri Balaji Nagar) in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /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 Madhura Street (sri Balaji Nagar)

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Madhura Street (Sri Balaji Nagar) guideline value

The current guideline value of Madhura Street (Sri Balaji Nagar) is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - I.

How the guideline value of Madhura Street (Sri Balaji Nagar) has changed

Over the years, the guideline value for Madhura Street (Sri Balaji Nagar) has seen several revisions. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 3,500 per sq.ft, which was an increase from the previous figures. The latest revision in 2024 raised the guideline value to Rs 3,850 per sq.ft, marking a 10% increase from the 2023 figure.

In summary, the guideline value has increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024. This indicates a significant upward movement in the valuation of Madhura Street (Sri Balaji Nagar) over the recent revision period.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 1,823 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, placing Madhura Street (Sri Balaji Nagar) above this median at Rs 3,850 per sq.ft.

Stamp duty and registration fee for property in Madhura Street (Sri Balaji Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Madhura Street (Sri Balaji Nagar)?

The Sub Registrar Office that covers Madhura Street (Sri Balaji Nagar) is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Madipakkam-1. It serves as the minimum value for property transactions, ensuring that the registration fees and stamp duties are calculated based on a standardized valuation.

When you register a property, the guideline value helps determine the applicable taxes. This ensures transparency and fairness in property transactions, as all buyers and sellers are subject to the same valuation standards.

Frequently asked questions

What is the current guideline value of Madhura Street (Sri Balaji Nagar)?

The current guideline value of Madhura Street (Sri Balaji Nagar) is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase.

What is the classification of Madhura Street (Sri Balaji Nagar)?

Madhura Street (Sri Balaji Nagar) is classified as Residential Class I Type - I.

What is the registration office for Madhura Street (Sri Balaji Nagar)?

The registration office for Madhura Street (Sri Balaji Nagar) is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties on Madhura Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500.