Guideline Value for Sadasivam Nagar, Bazzar Road

Sadasivam Nagar, Bazzar Road guideline value

The current guideline value for Sadasivam Nagar, Bazzar Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This area falls under the Madipakkam-1 village and is classified as Commercial Class I Type - I by the Velacheri SRO.

How the guideline value of Sadasivam Nagar, Bazzar Road has changed

The guideline value register shows that there are no figures for Sadasivam Nagar, Bazzar Road for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 5,500 per sq.ft.

Since there are no previous figures for this street, there have been no changes in the guideline value over the years. The current value reflects the first entry for this street in the register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 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 this village is Rs 2,750 per sq.ft, placing Sadasivam Nagar, Bazzar Road above that median.

• Sadasivam Nagar 6th Main Road,Ram Nagar South 7th Main Road: Rs 2,750 per sq.ft (2024)
• Sadasivam Nagar/Madipakkam Velacheri (Main) Road: Rs 5,500 per sq.ft (2024)
• Sadasivam Nagar, Rajagopalapuram Extension: Rs 3,850 per sq.ft (2024)
• Sadasivam Nagar 5th Main Road, Ram Nagar South 7th Main Road: Rs 2,750 per sq.ft (2024)
• Sadasivam Nagar, Rajagopalapuram North Nagar Extension: Rs 3,850 per sq.ft (2024)
• Sadasivam Nagar 3rd Link Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Sadasivam Nagar, Bazzar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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 precise calculations.

Which Sub Registrar Office covers Sadasivam Nagar, Bazzar Road?

The Sub Registrar Office that covers Sadasivam Nagar, Bazzar Road 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 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 applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from property sales.

When buying or selling property, the guideline value is compared with the sale price to assess which amount is higher. The stamp duty is then calculated based on this higher figure, ensuring compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value for Sadasivam Nagar, Bazzar Road?

The current guideline value for Sadasivam Nagar, Bazzar Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

What is the land classification of Sadasivam Nagar, Bazzar Road?

Sadasivam Nagar, Bazzar Road is classified as Commercial Class I Type - I by the Velacheri SRO.

How many streets are there in Madipakkam-1 under the Velacheri SRO?

There are 1823 streets in Madipakkam-1 under the Velacheri SRO, with a range of guideline values from Rs 1,650 to Rs 5,500 per sq.ft.

What are the stamp duty rates applicable in Sadasivam Nagar, Bazzar Road?

The stamp duty rate applicable in Sadasivam Nagar, Bazzar Road is 7% of the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Sadasivam Nagar, Bazzar Road?

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