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Guideline Value

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Guideline Value for Mylai Karpagambal Nagar 2nd Street

₹2200/sq.ft.

The guideline value for Mylai Karpagambal Nagar 2nd Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
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 Karpagambal Nagar 2nd Street

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Mylai Karpagambal Nagar 2nd Street guideline value

The current guideline value of Mylai Karpagambal Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Mylai Karpagambal Nagar 2nd Street has changed

The guideline value for Mylai Karpagambal Nagar 2nd Street has undergone several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 2,000 per sq.ft, and it increased by 10% to Rs 2,200 per sq.ft in the 2024 revision.

This increase reflects a change from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. The current value is below the median guideline value of Rs 2,750 per sq.ft for the 1823 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 as per the 2024 revision. The current guideline value for Mylai Karpagambal Nagar 2nd Street is below the median value of Rs 2,750 per sq.ft. The following are the guideline values for other streets in Madipakkam-1:

Stamp duty and registration fee for property in Mylai Karpagambal Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mylai Karpagambal Nagar 2nd Street?

The Mylai Karpagambal Nagar 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 details.

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

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of property registration.

Frequently asked questions

What is the current guideline value of Mylai Karpagambal Nagar 2nd Street?

The current guideline value of Mylai Karpagambal Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mylai Karpagambal Nagar 2nd Street was Rs 2,000 per sq.ft in 2023 and increased to Rs 2,200 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft as per the 2024 revision. The guideline value for Mylai Karpagambal Nagar 2nd Street is below this median.

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

The stamp duty for a property valued at Rs 22,00,000 would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration of properties in Mylai Karpagambal Nagar 2nd Street?

The Velacheri Sub Registrar Office handles the registration of properties in Mylai Karpagambal Nagar 2nd Street. The office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.