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Guideline Value

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Guideline Value for Mahalakshmi Nagar 2nd Street/Mahakavi Bharathi Street

₹2750/sq.ft.

The guideline value for Mahalakshmi Nagar 2nd Street/mahakavi Bharathi Street 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 N/A
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 Mahalakshmi Nagar 2nd Street/mahakavi Bharathi Street

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Mahalakshmi Nagar 2nd Street/Mahakavi Bharathi Street guideline value

The current guideline value for Mahalakshmi Nagar 2nd Street/Mahakavi Bharathi Street is Rs 2,750 per sq.ft. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Mahalakshmi Nagar 2nd Street/Mahakavi Bharathi Street has changed

The guideline value for Mahalakshmi Nagar 2nd Street/Mahakavi Bharathi Street has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 2,500 per sq.ft, which increased by 10% to Rs 2,750 per sq.ft in the 2024 revision.

This increase reflects a change from Rs 2,500 in 2023 to Rs 2,750 in 2024. The current figure of Rs 2,750 per sq.ft is equal to the median guideline value for 1823 streets in Madipakkam-1, which ranges from Rs 1,650 to Rs 5,500 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values vary across different streets. The median value is Rs 2,750 per sq.ft, which is the same as the guideline value for Mahalakshmi Nagar 2nd Street/Mahakavi Bharathi Street. The following are the guideline values for other streets in Madipakkam-1:

Stamp duty and registration fee for property in Mahalakshmi Nagar 2nd Street/Mahakavi Bharathi Street

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 is calculated at 7%, resulting in Rs 1,92,500, while the registration fee at 2% amounts to Rs 55,000. Together, the total cost for stamp duty and registration fee is Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalakshmi Nagar 2nd Street/Mahakavi Bharathi Street?

The Mahalakshmi Nagar 2nd Street/Mahakavi Bharathi Street falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For further assistance, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value of properties, ensuring that the registration fees and stamp duties are calculated fairly based on the property's worth.

When buying or selling property, the guideline value is referenced to assess the applicable duties and fees. This helps maintain transparency in property transactions and ensures compliance with the local regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Mahalakshmi Nagar 2nd Street/Mahakavi Bharathi Street?

The current guideline value for Mahalakshmi Nagar 2nd Street/Mahakavi Bharathi Street is Rs 2,750 per sq.ft as per the 2024 revision.

How has the guideline value changed from 2023 to 2024?

The guideline value increased from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase.

What is the land classification for Mahalakshmi Nagar 2nd Street/Mahakavi Bharathi Street?

The land classification for Mahalakshmi Nagar 2nd Street/Mahakavi Bharathi Street is Residential Class I Type - III.

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 property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty at 7% amounts to Rs 1,92,500.