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Guideline Value

Corporate

Guideline Value for Madipakkam Main Road/Kusavan Kulam

₹5500/sq.ft.

The guideline value for Madipakkam Main Road/kusavan Kulam in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 5500 per sq.ft, effective 1 July 2024. It was Rs 5000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹5500 /sq.ft.
From 1-4-2023 ₹5000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3350 /sq.ft.
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 Madipakkam Main Road/kusavan Kulam

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Madipakkam Main Road/Kusavan Kulam guideline value

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

How the guideline value of Madipakkam Main Road/Kusavan Kulam has changed

Over the years, the guideline value for Madipakkam Main Road/Kusavan Kulam has seen significant changes. 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 most recent revision in 2024 has further raised the guideline value to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%, and from 2017 to 2024, there has been an overall increase of 64%. It is important to note that there are no figures available for this street in the revisions for the years 2002, 2003, 2007, and 2012.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 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/Kusavan Kulam is above this median.

Stamp duty and registration fee for property in Madipakkam Main Road/Kusavan Kulam

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty is charged at 7%, which totals Rs 3,85,000, and the registration fee at 2% amounts to Rs 1,10,000. Therefore, the total charges would be Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madipakkam Main Road/Kusavan Kulam?

The Sub Registrar Office that covers Madipakkam Main Road/Kusavan Kulam 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 during the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is essential for calculating the applicable stamp duty and registration fees. These fees are typically based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Madipakkam Main Road/Kusavan Kulam?

The current guideline value of Madipakkam Main Road/Kusavan Kulam is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 64%, rising from Rs 3,350 per sq.ft to Rs 5,500 per sq.ft in 2024.

What is the land classification of Madipakkam Main Road/Kusavan Kulam?

Madipakkam Main Road/Kusavan Kulam is classified as Commercial Class I Type - I.

Where can I find the Velacheri Sub Registrar Office?

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

How is stamp duty calculated for properties in Madipakkam Main Road/Kusavan Kulam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.