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 Thalakanancherry 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 significant changes over the years. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, marking a substantial rise of 178%. However, this value dropped to Rs 3,350 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose sharply to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision, representing a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 206%. Notably, the register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, making the current value of Madippakkam Main road above the median.

• Madhavan Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Madhavan Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Lakshmi Street: Rs 4,400 per sq.ft (2024)
• Malaicharivu Road: Rs 2,800 per sq.ft (2024)
• Lakshmi Narasimma Koil Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar Main: Rs 4,400 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 rate of Rs 5,500 per sq.ft, the 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 to 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.

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

Which Sub Registrar Office covers Madippakkam Main road?

The Sub Registrar Office covering Madippakkam Main road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor during property registration in Thalakanancherry. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the current guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration.

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 significantly, from Rs 1,800 per sq.ft in 2007 to the current Rs 5,500 per sq.ft in 2024, marking an overall increase of 206% over the years.

What are the stamp duty and registration fees for property in Madippakkam Main road?

The stamp duty is 7%, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,95,000 based on the current guideline value.

Which Sub Registrar Office covers Madippakkam Main road?

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

What is the median guideline value in Thalakanancherry?

The median guideline value for streets in Thalakanancherry is Rs 3,900 per sq.ft, with Madippakkam Main road's current value being above this median.