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Guideline Value

Corporate

Guideline Value for Sai Ram Avenue 1st Street

₹2200/sq.ft.

The guideline value for Sai Ram Avenue 1st Street 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 ₹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 Sai Ram Avenue 1st Street

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Sai Ram Avenue 1st Street guideline value

The current guideline value of Sai Ram Avenue 1st 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 Sai Ram Avenue 1st Street has changed

The guideline value for Sai Ram Avenue 1st Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision. The most recent revision in 2024 raised it further to Rs 2,200 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are several years for which the register has no figure for this street, specifically 2002, 2003, 2007, and 2012. The 2024 revision represents a significant increase of 49% from the 2017 figure to the 2023 figure, showcasing a steady rise in the guideline value over time.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft in 2024. The median guideline value for these streets is Rs 2,750 per sq.ft, indicating that Sai Ram Avenue 1st Street's 2024 figure is below this median.

Stamp duty and registration fee for property in Sai Ram Avenue 1st 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 is charged at 7%, which comes to Rs 1,54,000, while the registration fee at 2% totals Rs 44,000. Together, these fees amount to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator to estimate your fees based on the property value.

Which Sub Registrar Office covers Sai Ram Avenue 1st Street?

The Sub Registrar Office that covers Sai Ram Avenue 1st Street 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 during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two values is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions within the region.

Frequently asked questions

What is the current guideline value of Sai Ram Avenue 1st Street?

The current guideline value of Sai Ram Avenue 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 64% during this period.

What is the median guideline value in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, which means that Sai Ram Avenue 1st Street's 2024 figure is below this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in this area is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2%.

Where is the Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042, and it covers Sai Ram Avenue 1st Street.