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Guideline Value

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Guideline Value for Mahalakshi Nagar, Bharathiar Salai,

₹2750/sq.ft.

The guideline value for Mahalakshi Nagar, Bharathiar Salai, in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /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 Mahalakshi Nagar, Bharathiar Salai,

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Mahalakshi Nagar, Bharathiar Salai, guideline value

The current guideline value of Mahalakshi Nagar, Bharathiar Salai, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Madipakkam-1 village and is classified as Residential Class I Type - III. The relevant Sub Registrar Office for this locality is the Velacheri SRO.

How the guideline value of Mahalakshi Nagar, Bharathiar Salai, has changed

The guideline value for Mahalakshi Nagar, Bharathiar Salai, has seen several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, which was a significant increase from the previous years where no figures were available for this street. In 2023, the value rose to Rs 2,500 per sq.ft, marking a 49% increase from 2017. The most recent revision in 2024 increased the guideline value further to Rs 2,750 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from 2017 to 2024, there has been a 64% increase in the guideline value. The revisions for the years 2002, 2003, 2007, and 2012 do not have any figures recorded for this street.

Guideline values in Madipakkam-1

In the Madipakkam-1 village, 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. The median guideline value for this area is Rs 2,750 per sq.ft, which is equal to the current value of Mahalakshi Nagar, Bharathiar Salai.

Stamp duty and registration fee for property in Mahalakshi Nagar, Bharathiar Salai,

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mahalakshi Nagar, Bharathiar Salai,?

The Mahalakshi Nagar, Bharathiar Salai, area is covered by 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 in the registration process of property transactions in Madipakkam-1. It is the benchmark value set by the government for properties in the area, and it is used to calculate the stamp duty and registration fees applicable during the sale or purchase of property.

When a buyer or seller engages in a transaction, the guideline value ensures that the property is registered at a fair and standardized rate, helping to maintain transparency and consistency in the real estate market.

Frequently asked questions

What is the current guideline value of Mahalakshi Nagar, Bharathiar Salai?

The current guideline value of Mahalakshi Nagar, Bharathiar Salai, is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking a 64% increase overall. The value was Rs 2,500 per sq.ft in 2023, reflecting a 10% increase from the previous year.

What is the registration office for Mahalakshi Nagar, Bharathiar Salai?

The registration office covering Mahalakshi Nagar, Bharathiar Salai, is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at a rate of 7%.

What are the guideline values of other streets in Madipakkam-1?

Other streets in Madipakkam-1 have varying guideline values. For instance, Mahalakshmi Nagar 9th Street and Mahakavi Bharathi Nagar, Mahalalshmi Nagar 2nd Street both have a guideline value of Rs 2,750 per sq.ft in 2024, while Mahakavi Barathi Nagar is valued at Rs 2,200 per sq.ft.