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Guideline Value

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Guideline Value for Mylai Kabaleeswarar Colony layout 2nd Street

₹3850/sq.ft.

The guideline value for Mylai Kabaleeswarar Colony Layout 2nd Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /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 Mylai Kabaleeswarar Colony Layout 2nd Street

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Mylai Kabaleeswarar Colony layout 2nd Street guideline value

The current guideline value of Mylai Kabaleeswarar Colony layout 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO and is classified as Residential Class I Type - I.

How the guideline value of Mylai Kabaleeswarar Colony layout 2nd Street has changed

The guideline value register does not provide figures for the years 2002, 2003, 2007, 2012, 2017, and 2023 for Mylai Kabaleeswarar Colony layout 2nd Street. The most recent revision is from 2024, which sets the guideline value at Rs 3,850 per sq.ft.

Prior to 2024, there were no recorded figures for this street in the guideline value register. Therefore, the only applicable figure is from the 2024 revision.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the area is Rs 2,750 per sq.ft, placing Mylai Kabaleeswarar Colony layout 2nd Street's 2024 figure above this median.

Stamp duty and registration fee for property in Mylai Kabaleeswarar Colony layout 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total Rs 3,46,500. 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 Mylai Kabaleeswarar Colony layout 2nd Street?

The Mylai Kabaleeswarar Colony layout 2nd Street falls under 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 crucial factor in property transactions in Madipakkam-1, as it determines the baseline for stamp duty and registration fees. When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately for taxation purposes.

At the time of registration, the buyer must pay the stamp duty and registration fees 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 Mylai Kabaleeswarar Colony layout 2nd Street?

The current guideline value of Mylai Kabaleeswarar Colony layout 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value register does not provide figures for the years 2002, 2003, 2007, 2012, 2017, and 2023 for this street. The only available figure is from the 2024 revision at Rs 3,850 per sq.ft.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft. Mylai Kabaleeswarar Colony layout 2nd Street's 2024 figure is above this median.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Mylai Kabaleeswarar Colony layout 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.