Guideline Value

Corporate

Guideline Value for Manikkavasagar Street

₹2750/sq.ft.

The guideline value for Manikkavasagar Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. 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 N/A
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 Manikkavasagar Street

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Manikkavasagar Street guideline value

The current guideline value of Manikkavasagar Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Manikkavasagar Street has changed

The guideline value register shows no figures for Manikkavasagar Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision, effective from 1 July 2024, sets the guideline value at Rs 2,750 per sq.ft.

There have been no changes between the revisions above. The 2024 figure is consistent with the median guideline value of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1 under the Velacheri SRO.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft, with the median being Rs 2,750 per sq.ft. Manikkavasagar Street's 2024 guideline value aligns with this median.

Stamp duty and registration fee for property in Manikkavasagar 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 at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling 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 Manikkavasagar Street?

The Sub Registrar Office covering Manikkavasagar Street 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 more information.

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

The guideline value is a critical factor in the registration process for property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in accordance with government regulations.

When buying or selling property, the guideline value will influence the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can affect the overall cost of the property purchase.

Frequently asked questions

What is the current guideline value of Manikkavasagar Street?

The current guideline value of Manikkavasagar Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

What revisions have been made to the guideline value of Manikkavasagar Street?

The guideline value register shows no figures for Manikkavasagar Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The latest revision is from 2024, which sets the value at Rs 2,750 per sq.ft.

How does the guideline value of Manikkavasagar Street compare to other streets in Madipakkam-1?

The guideline value of Manikkavasagar Street is equal to the median value of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1 under the Velacheri SRO. Other streets in the area have varying rates, with some as high as Rs 3,850 per sq.ft.

What are the stamp duty and registration fees for property in Manikkavasagar Street?

For a 1,000 sq.ft plot at the guideline value of Rs 2,750 per sq.ft, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Manikkavasagar Street?

The Velacheri Sub Registrar Office handles registrations for Manikkavasagar Street. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.