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Guideline Value

Corporate

Guideline Value for New India Colony 1st Mandaveli Link Road

₹2200/sq.ft.

The guideline value for New India Colony 1st Mandaveli Link Road 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 New India Colony 1st Mandaveli Link Road

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New India Colony 1st Mandaveli Link Road guideline value

The current guideline value of New India Colony 1st Mandaveli Link Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of New India Colony 1st Mandaveli Link Road has changed

The guideline value for New India Colony 1st Mandaveli Link Road has undergone several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show an increase from Rs 2,000 per sq.ft in the 2023 revision to Rs 2,200 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, the guideline value for this street was not available in the register. The 2024 figure of Rs 2,200 per sq.ft is the first recorded value for New India Colony 1st Mandaveli Link Road since the register began tracking this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO with 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, placing New India Colony 1st Mandaveli Link Road's 2024 figure below this median.

Stamp duty and registration fee for property in New India Colony 1st Mandaveli Link Road

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

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

Which Sub Registrar Office covers New India Colony 1st Mandaveli Link Road?

The Sub Registrar Office that covers New India Colony 1st Mandaveli Link Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find more details, you can find your SRO.

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

The guideline value is a crucial factor during the registration of 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 government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in calculating the applicable taxes and fees. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for New India Colony 1st Mandaveli Link Road?

The current guideline value for New India Colony 1st Mandaveli Link Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

The guideline value increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a change of +10%.

What is the land classification for this street?

New India Colony 1st Mandaveli Link Road falls under the Residential Class II Type - I land classification.

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

The Velacheri Sub Registrar Office covers New India Colony 1st Mandaveli Link Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.