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Guideline Value

Corporate

Guideline Value for Sivaprakasa Nagar 2nd Cross Street

₹3850/sq.ft.

The guideline value for Sivaprakasa Nagar 2nd Cross Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
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 Sivaprakasa Nagar 2nd Cross Street

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Sivaprakasa Nagar 2nd Cross Street guideline value

The current guideline value of Sivaprakasa Nagar 2nd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - I.

How the guideline value of Sivaprakasa Nagar 2nd Cross Street has changed

The guideline value for Sivaprakasa Nagar 2nd Cross Street has undergone several revisions. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 3,500 per sq.ft. The register has no figures for this street in the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the last recorded guideline value was Rs 3,500 per sq.ft in 2023. The street's guideline value has consistently been updated in line with other streets in the area, reflecting the changes in property valuations over time.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing the 2024 guideline value of Sivaprakasa Nagar 2nd Cross Street above this median.

Stamp duty and registration fee for property in Sivaprakasa Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sivaprakasa Nagar 2nd Cross Street?

The Sivaprakasa Nagar 2nd Cross Street 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 details.

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 minimum value at which a property can be registered, ensuring transparency in property transactions.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the transfer of ownership. Buyers should be aware that the duty is based on the higher of the guideline value or the sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value for Sivaprakasa Nagar 2nd Cross Street?

The current guideline value for Sivaprakasa Nagar 2nd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2023 to 2024?

The guideline value increased by 10% from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024.

What are the other streets in Madipakkam-1 with the same guideline value?

Other streets in Madipakkam-1 with the same guideline value of Rs 3,850 per sq.ft include Sivaprakasa Nagar 1st Street / Sankara Nagar, Sivaprakasa Nagar 2nd Main Road, Sivaprakasa Nagar 1st Street, Sivaprakasa Nagar 2nd Street, Sivaprakasa Nagar 1st Main Road, and Sivaprakasa Nagar 3rd Cross Street.

Where can I find the registration office for Sivaprakasa Nagar 2nd Cross Street?

The registration office for Sivaprakasa Nagar 2nd Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.