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Guideline Value

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Guideline Value for Mahalakshmi Nagar Main Road,Bharathiyar Salai,

₹2750/sq.ft.

The guideline value for Mahalakshmi Nagar Main Road,bharathiyar 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 Mahalakshmi Nagar Main Road,bharathiyar Salai,

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Mahalakshmi Nagar Main Road,Bharathiyar Salai, guideline value

The current guideline value for Mahalakshmi Nagar Main Road, Bharathiyar Salai, is Rs 2,750 per sq.ft, effective from 1 July 2024. This property is located in Madipakkam-1 village and falls under the Velacheri SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Mahalakshmi Nagar Main Road,Bharathiyar Salai, has changed

The guideline value for Mahalakshmi Nagar Main Road, Bharathiyar Salai, has seen several revisions over the years. Starting from the 2017 revision, the value was Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

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. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the current value for Mahalakshmi Nagar Main Road.

Stamp duty and registration fee for property in Mahalakshmi Nagar Main Road,Bharathiyar Salai,

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, these fees would total 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 Mahalakshmi Nagar Main Road,Bharathiyar Salai,?

The Mahalakshmi Nagar Main Road, Bharathiyar Salai, 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 during property registration in Madipakkam-1. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for Mahalakshmi Nagar Main Road?

The current guideline value for Mahalakshmi Nagar Main Road, Bharathiyar Salai, is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft in 2024, marking an overall increase of 64%.

What is the stamp duty rate for properties in this area?

The stamp duty for properties in Mahalakshmi Nagar Main Road is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

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

How can I calculate stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator available online.