Guideline Value

Corporate

Guideline Value for Sheela Nagar Main Road

₹2750/sq.ft.

The guideline value for Sheela Nagar Main Road in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /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 Sheela Nagar Main Road

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Sheela Nagar Main Road guideline value

The current guideline value of Sheela Nagar Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Madipakkam-1 village under the Velacheri SRO, and it is classified as Residential Class I Type - III.

How the guideline value of Sheela Nagar Main Road has changed

In the 2017 revision, the guideline value was Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has set the value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

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 these streets is Rs 2,750 per sq.ft, which is equal to the current value of Sheela Nagar Main Road.

Stamp duty and registration fee for property in Sheela Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the 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, making the total Rs 2,47,500. Please 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 for more details.

Which Sub Registrar Office covers Sheela Nagar Main Road?

Sheela Nagar Main Road 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 more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate duty and fees.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. Buyers should be aware that these costs are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Sheela Nagar Main Road?

The current guideline value of Sheela Nagar Main Road 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 seen several revisions: it was Rs 1,675 per sq.ft in 2017, increased to Rs 2,500 per sq.ft in 2023, and is now Rs 2,750 per sq.ft in 2024.

What is the land classification for Sheela Nagar Main Road?

Sheela Nagar Main Road is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Sheela Nagar Main Road?

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500 based on the guideline value of Rs 27,50,000.

Which Sub Registrar Office covers the area of Sheela Nagar Main Road?

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