Guideline Value

Corporate

Guideline Value for Secretariat Colony 1st Street

₹2750/sq.ft.

The guideline value for Secretariat Colony 1st Street in Madambakkam village (Selaiyur SRO, Chengalpattu zone) is Rs 2750 per sq.ft, effective 1 July 2024. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Madambakkam

Village

Selaiyur

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
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.36,bharathmatha Salai(opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur,chennai - 600 073.
044-22391102
[email protected]

DRO (District Registrar Office)

Tambaram District Registrar Office,no.47/8,venkatesan Street,tambaram (west),chennai- 600 045.
null
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Secretariat Colony 1st Street

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Secretariat Colony 1st Street guideline value

The current guideline value for Secretariat Colony 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Commercial Class I Type - I.

How the guideline value of Secretariat Colony 1st Street has changed

The guideline value for Secretariat Colony 1st Street has undergone several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. However, the latest revision in 2024 saw a significant increase to Rs 2,750 per sq.ft, marking a 64% rise from the 2017 figure. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2023 for this street. The changes in guideline values reflect the revisions made in 2012, 2017, and 2024, highlighting the fluctuations in property valuation over time.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Secretariat Colony 1st Street's current value above this median.

Stamp duty and registration fee for property in Secretariat Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Secretariat Colony 1st Street?

The Sub Registrar Office that covers Secretariat Colony 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions within the area.

Frequently asked questions

What is the current guideline value of Secretariat Colony 1st Street?

The current guideline value of Secretariat Colony 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,750 per sq.ft in 2024. This reflects a 64% increase from 2017 to 2024.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft, with Secretariat Colony 1st Street's current value above this median.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 27,50,000, the total stamp duty and registration fee would amount to Rs 2,47,500.

Which office handles the registration for Secretariat Colony 1st Street?

The Selaiyur Sub Registrar Office handles the registration for Secretariat Colony 1st Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.