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Guideline Value

Corporate

Guideline Value for Sivamurugan Avenue

₹1650/sq.ft.

The guideline value for Sivamurugan Avenue in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 1650 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹1650 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1005 /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 Sivamurugan Avenue

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Sivamurugan Avenue guideline value

The current guideline value of Sivamurugan Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO and falls under the Residential Class II Type - II land classification.

How the guideline value of Sivamurugan Avenue has changed

The guideline value for Sivamurugan Avenue has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft. This was followed by a significant increase to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 brought the guideline value to Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that have 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. The guideline value of Sivamurugan Avenue is below this median.

Stamp duty and registration fee for property in Sivamurugan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sivamurugan Avenue?

The Sub Registrar Office that covers Sivamurugan Avenue is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Sivamurugan Avenue?

The current guideline value of Sivamurugan Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, and then to Rs 1,650 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What are the other streets in Madipakkam-1 and their guideline values?

Other streets in Madipakkam-1 include Sivagami Nagar, Sivaprakasa Nagar, and several others, all with a guideline value of Rs 3,850 per sq.ft in 2024, which is higher than that of Sivamurugan Avenue.

What fees are associated with buying property in Sivamurugan Avenue?

When buying property in Sivamurugan Avenue, buyers should be aware of the stamp duty at 7% and a registration fee at 2% of the guideline value. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Sivamurugan Avenue?

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