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Guideline Value

Corporate

Guideline Value for Sivaprakasa Nagar 2nd Main Road

₹3850/sq.ft.

The guideline value for Sivaprakasa Nagar 2nd Main Road 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 Main Road

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Sivaprakasa Nagar 2nd Main Road guideline value

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

How the guideline value of Sivaprakasa Nagar 2nd Main Road has changed

Over the years, the guideline value for Sivaprakasa Nagar 2nd Main Road has seen several revisions. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 3,500 per sq.ft, which increased to Rs 3,850 per sq.ft in the 2024 revision, marking a 10% rise.

This increase reflects a shift in the valuation, with the current figure now standing at Rs 3,850 per sq.ft as of the 2024 revision. The previous revisions are as follows: the 2023 revision was Rs 3,500 per sq.ft, while the 2024 revision is the most recent and shows a notable increase.

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. The median guideline value for these streets is Rs 2,750 per sq.ft, placing the 2024 figure for Sivaprakasa Nagar 2nd Main Road above this median.

Stamp duty and registration fee for property in Sivaprakasa Nagar 2nd Main Road

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 is charged at 7%, resulting in Rs 2,69,500, while the registration fee is 2%, amounting to Rs 77,000. Together, the total cost for stamp duty and registration fee would be Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivaprakasa Nagar 2nd Main Road?

The Sub Registrar Office that covers Sivaprakasa Nagar 2nd Main Road 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 plays a crucial role in property transactions in Madipakkam-1. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is legally compliant.

It is essential for buyers and sellers to be aware of the current guideline value to accurately calculate the costs involved in the registration process. This value serves as a benchmark for property transactions, helping to standardize the fees charged by the registration authorities.

Frequently asked questions

What is the current guideline value of Sivaprakasa Nagar 2nd Main Road?

The current guideline value of Sivaprakasa Nagar 2nd Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017.

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. The guideline value for Sivaprakasa Nagar 2nd Main Road is above this median.

What are the stamp duty and registration fees for property in Sivaprakasa Nagar 2nd Main Road?

The stamp duty is charged at 7% and the registration fee at 2%. For a 1,000 sq.ft plot at the guideline value of Rs 3,850 per sq.ft, the total cost for stamp duty and registration fees would be Rs 3,46,500.

Which Sub Registrar Office covers the Sivaprakasa Nagar area?

The Velacheri Sub Registrar Office covers the Sivaprakasa Nagar area, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.