Guideline Value for Sadasivam Nagar/Madipakkam Velacheri (Main) Road

Sadasivam Nagar/Madipakkam Velacheri (Main) Road guideline value

The current guideline value of Sadasivam Nagar/Madipakkam Velacheri (Main) Road is Rs 5,500 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 Commercial Class I Type - I land classification.

How the guideline value of Sadasivam Nagar/Madipakkam Velacheri (Main) Road has changed

The guideline value for Sadasivam Nagar/Madipakkam Velacheri (Main) Road has undergone several revisions over the years. The 2017 revision set the value at Rs 3,350 per sq.ft, which was then increased to Rs 5,500 per sq.ft in the 2024 revision, marking a significant increase of 64% over this period. The register has no figure for the years 2023, 2012, 2007, 2003, and 2002.

Prior to the 2017 revision, there were no recorded figures for the street in the register for the years mentioned. The consistent updates reflect the changing landscape of property values in the area.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 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. Sadasivam Nagar/Madipakkam Velacheri (Main) Road's 2024 figure is above this median.

• Sadasivam Nagar, Bazzar Road: Rs 5,500 per sq.ft (2024)
• Sadasivam Nagar, Rajagopalapuram Extension: Rs 3,850 per sq.ft (2024)
• Sadasivam Nagar 6th 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, Ram Nagar Laout South Main Road: Rs 2,750 per sq.ft (2024)
• Sadasivam Nagar 5th Main Road, Ram Nagar South 7th Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sadasivam Nagar/Madipakkam Velacheri (Main) Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost to Rs 4,95,000. 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 Sadasivam Nagar/Madipakkam Velacheri (Main) Road?

The Sadasivam Nagar/Madipakkam Velacheri (Main) Road falls under the jurisdiction of 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

When buying or selling property in Madipakkam-1, the guideline value is a crucial factor in determining the stamp duty and registration fees. It serves as a benchmark for the transaction, ensuring that the value is assessed fairly according to the established rates.

During the registration process, the guideline value is referenced to calculate the applicable fees, 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 of Sadasivam Nagar/Madipakkam Velacheri (Main) Road?

The current guideline value of Sadasivam Nagar/Madipakkam Velacheri (Main) Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 3,350 per sq.ft to Rs 5,500 per sq.ft in 2024, representing a change of 64%.

What is the land classification for Sadasivam Nagar/Madipakkam Velacheri (Main) Road?

Sadasivam Nagar/Madipakkam Velacheri (Main) Road is classified as Commercial Class I Type - I.

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 the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at the rate of 7%.