Guideline Value for Medavakkam Alandur High Road

Medavakkam Alandur High Road guideline value

The current guideline value of Medavakkam Alandur High Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur Sub Registrar Office (SRO), and is classified as Commercial Class I Type - I.

How the guideline value of Medavakkam Alandur High Road has changed

The guideline value for Medavakkam Alandur High Road has seen significant changes over the years. In 2002, the guideline value was Rs 358 per sq.ft, which increased to Rs 1,000 per sq.ft in 2003, marking a rise of 179%. The value continued to increase, reaching Rs 1,750 per sq.ft in 2007, a 75% increase from the previous revision. By 2012, the value had risen to Rs 5,000 per sq.ft, reflecting a substantial increase of 186% from 2007. However, this figure dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the guideline value increased significantly to Rs 5,000 per sq.ft, representing a 49% rise. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,436%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. The guideline value for Medavakkam Alandur High Road is above this median.

• Medavakkam Main Road: Rs 5,500 per sq.ft (2024)
• Mathiyazhagan Street Main: Rs 2,800 per sq.ft (2024)
• Mathiyazhagan Street 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Mathiyazhagan Street 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Mekmillan 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Mekmillan 2nd Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Medavakkam Alandur High Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty is charged at 7%, which totals Rs 3,85,000, while the registration fee is charged at 2%, amounting to Rs 1,10,000. Together, these fees total Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Medavakkam Alandur High Road?

The Medavakkam Alandur High Road falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for additional information.

How the guideline value is used when you buy or sell in Ullagaram

The guideline value is a crucial factor in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Medavakkam Alandur High Road?

The current guideline value of Medavakkam Alandur High Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 358 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 1,436% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 55,00,000, the stamp duty is Rs 3,85,000 and the registration fee is Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers this street?

The Alandur Sub Registrar Office covers Medavakkam Alandur High Road, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value in Ullagaram?

The median guideline value in Ullagaram is Rs 2,800 per sq.ft, with Medavakkam Alandur High Road's value being above this median.