Guideline Value for Madipakkam Main Road/Bharathiar Salai

Madipakkam Main Road/Bharathiar Salai guideline value

The current guideline value of Madipakkam Main Road/Bharathiar Salai is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Commercial Class I Type - I.

How the guideline value of Madipakkam Main Road/Bharathiar Salai has changed

The guideline value for this street has seen significant changes over the years. The 2017 revision set the value at Rs 3,350 per sq.ft, which increased to Rs 5,000 per sq.ft in the 2023 revision. The latest revision in 2024 raised it further to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, it has risen by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Madipakkam Main Road/Bharathiar Salai is above this median.

• Madipakkam Main Road/Kusavan Kulam: Rs 5,500 per sq.ft (2024)
• Madipakkam Main Road/Ram Nagar South(Velacheri Madipakkam Link Road): Rs 5,500 per sq.ft (2024)
• Madhura Street (Sri Balaji Nagar): Rs 3,850 per sq.ft (2024)
• Madipakkam Velacheri Road: Rs 5,500 per sq.ft (2024)
• Madipakkam Velacheri Road/Sadasivam Nagar: Rs 5,500 per sq.ft (2024)
• Madhavan Nagar 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Madipakkam Main Road/Bharathiar Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Madipakkam Main Road/Bharathiar Salai?

The Madipakkam Main Road/Bharathiar Salai falls under the Velacheri Sub Registrar Office located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Madipakkam-1, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Madipakkam Main Road/Bharathiar Salai?

The current guideline value for Madipakkam Main Road/Bharathiar Salai is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 3,350 per sq.ft in 2017 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for this street?

Madipakkam Main Road/Bharathiar Salai is classified as Commercial Class I Type - I.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 4,95,000.