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Guideline Value

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Guideline Value for Periyar Nagar Main Road/Dr.Ambedkar Salai

₹3850/sq.ft.

The guideline value for Periyar Nagar Main Road/dr.ambedkar Salai in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. 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 ₹3500 /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 Periyar Nagar Main Road/dr.ambedkar Salai

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Periyar Nagar Main Road/Dr.Ambedkar Salai guideline value

The current guideline value for Periyar Nagar Main Road/Dr.Ambedkar Salai in Madipakkam-1 village, under the Velacheri SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - I land classification.

How the guideline value of Periyar Nagar Main Road/Dr.Ambedkar Salai has changed

The guideline value for Periyar Nagar Main Road/Dr.Ambedkar Salai has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was recorded at Rs 3,500 per sq.ft, which increased to Rs 3,850 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for the street in the earlier years mentioned. The 2024 figure of Rs 3,850 per sq.ft is significant as it is above 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

The guideline values for properties in Madipakkam-1 range from Rs 1,650 to Rs 5,500 per sq.ft. The current value for Periyar Nagar Main Road/Dr.Ambedkar Salai is above the median value of Rs 2,750 per sq.ft. Below are the guideline values for other streets in Madipakkam-1:

Stamp duty and registration fee for property in Periyar Nagar Main Road/Dr.Ambedkar Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to 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, bringing the total cost for these fees to Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyar Nagar Main Road/Dr.Ambedkar Salai?

The Sub Registrar Office that covers Periyar Nagar Main Road/Dr.Ambedkar Salai 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 crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally.

When a property is sold, the guideline value helps determine the fees payable, which are based on either 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 for Periyar Nagar Main Road/Dr.Ambedkar Salai?

The current guideline value for Periyar Nagar Main Road/Dr.Ambedkar Salai is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, which is a change of +10%.

What is the land classification for this area?

The land classification for Periyar Nagar Main Road/Dr.Ambedkar Salai is Residential Class I Type - I.

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

The Velacheri Sub Registrar Office covers Periyar Nagar Main Road/Dr.Ambedkar Salai, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It is based on the higher of the guideline value or the sale price, ensuring that the appropriate fees are collected for the transaction.