Guideline Value for Madippakkam Main Road

Madippakkam Main Road guideline value

The current guideline value of Madippakkam Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Ullagaram village, under the Alandur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Madippakkam Main Road has changed

The guideline value for Madippakkam Main Road has seen several revisions over the years. In 2002, the value was Rs 339 per sq.ft. This increased to Rs 700 per sq.ft in 2003, marking a change of +106%. The value continued to rise, reaching Rs 1,300 per sq.ft in 2007, which represented an increase of +86%. By 2012, the value was Rs 5,000 per sq.ft, reflecting a significant jump of +285% from the previous revision. However, in 2017, the value dropped to Rs 3,350 per sq.ft, a decrease of -33%. The most recent revisions show an increase to Rs 5,000 per sq.ft in 2023, followed by a further increase to Rs 5,500 per sq.ft in 2024, which is a rise of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +1522%. There are no figures available for the revisions in the years not mentioned in the register.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, placing Madippakkam Main Road's 2024 figure above that median.

• Mandaba Connection Road: Rs 3,900 per sq.ft (2024)
• Lakshmi Nagar Extension 6th Street: Rs 2,800 per sq.ft (2024)
• Lakshmi Nagar 6th Street Extension: Rs 2,800 per sq.ft (2024)
• Lakshmi Nagar 10th Street Extension: Rs 2,800 per sq.ft (2024)
• Lakshmi Nagar 10th Street: Rs 2,800 per sq.ft (2024)
• Manimegalai Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Madippakkam Main Road

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 at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madippakkam Main Road?

The Sub Registrar Office that covers Madippakkam Main Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Ullagaram

The guideline value is a crucial component in the registration process for property transactions in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When a buyer or seller engages in a property transaction, the guideline value is utilized to calculate the applicable fees. This ensures that both parties are aware of the financial obligations associated with the transaction and helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Madippakkam Main Road?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 339 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of +1522% across the years.

What is the land classification for Madippakkam Main Road?

Madippakkam Main Road is classified as Commercial Class I Type - I.

What is the median guideline value for streets in Ullagaram?

The median guideline value for streets in Ullagaram is Rs 2,800 per sq.ft for the year 2024.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.