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Guideline Value

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Guideline Value for Mahalakshmi Nagar,Bharathiyar Salai,

₹2750/sq.ft.

The guideline value for Mahalakshmi Nagar,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,bharathiyar Salai,

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Mahalakshmi Nagar,Bharathiyar Salai, guideline value

The current guideline value of Mahalakshmi Nagar,Bharathiyar Salai, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is part of Madipakkam-1 village under the Velacheri SRO and is classified as Residential Class I Type - III.

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

In the 2017 revision, the guideline value was Rs 1,675 per sq.ft. It increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value further increase to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 64%. The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

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 guideline value for these streets is Rs 2,750 per sq.ft, which is equal to the current guideline value of Mahalakshmi Nagar,Bharathiyar Salai.

Stamp duty and registration fee for property in Mahalakshmi Nagar,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 amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration fee would be Rs 2,47,500. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Mahalakshmi Nagar,Bharathiyar Salai,?

The Sub Registrar Office that covers Mahalakshmi Nagar,Bharathiyar Salai, is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the property registration process. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate taxes based on this value.

When buying or selling property in Madipakkam-1, the guideline value helps establish the sale price for registration purposes. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar,Bharathiyar Salai?

The current guideline value of Mahalakshmi Nagar,Bharathiyar 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 increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the other streets in Madipakkam-1 with the same guideline value?

Other streets in Madipakkam-1, including Mahalakshmi Nagar,Bharathiyar Nagar, Mahalakshmi Nagar Extension/Annai Velankanni Nagar, and several others, also have a guideline value of Rs 2,750 per sq.ft for 2024.

What is the registration fee for properties in this area?

The registration fee for properties in Mahalakshmi Nagar,Bharathiyar Salai, is calculated at 2% of the guideline value. For a property valued at Rs 27,50,000, the registration fee would be Rs 55,000.

Where can I find the Sub Registrar Office for this area?

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