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Guideline Value

Corporate

Guideline Value for Raja Rajeshwari Nagar Main Road 7th Street

₹2200/sq.ft.

The guideline value for Raja Rajeshwari Nagar Main Road 7th Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. 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 N/A
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
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 Raja Rajeshwari Nagar Main Road 7th Street

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Raja Rajeshwari Nagar Main Road 7th Street guideline value

The current guideline value of Raja Rajeshwari Nagar Main Road 7th 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, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Raja Rajeshwari Nagar Main Road 7th Street has changed

In the 2017 revision, the guideline value was set at Rs 1,340 per sq.ft. The subsequent 2024 revision saw a significant increase to Rs 2,200 per sq.ft, marking a change of +64%. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

This increase reflects the evolving property landscape in the area. The current guideline value is a clear indication of the changes that have occurred since the last revision, highlighting the growing significance of this street within the local real estate framework.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Raja Rajeshwari Nagar Main Road 7th Street's 2024 figure is below this median.

Stamp duty and registration fee for property in Raja Rajeshwari Nagar Main Road 7th Street

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 to Rs 1,98,000. 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 Raja Rajeshwari Nagar Main Road 7th Street?

The Raja Rajeshwari Nagar Main Road 7th 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 further assistance.

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

The guideline value is a crucial factor during property transactions in Madipakkam-1. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers must be aware of the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Raja Rajeshwari Nagar Main Road 7th Street?

The current guideline value of Raja Rajeshwari Nagar Main Road 7th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since the last revision?

Since the 2017 revision, the guideline value has increased by +64%, from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024.

What are the guideline values for other streets in Madipakkam-1?

Other streets in Madipakkam-1 have guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft, with the median being Rs 2,750 per sq.ft. Raja Rajeshwari Nagar Main Road 7th Street's value is below this median.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable on the guideline value.