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Guideline Value

Corporate

Guideline Value for Sivaprakasa Nagar 2nd Street

₹3850/sq.ft.

The guideline value for Sivaprakasa Nagar 2nd 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 Street

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Sivaprakasa Nagar 2nd Street guideline value

The current guideline value of Sivaprakasa Nagar 2nd 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 and is classified as Residential Class I Type - I.

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

In the 2023 revision, the guideline value for Sivaprakasa Nagar 2nd Street was Rs 3,500 per sq.ft. This represented an increase of 10% to the current value of Rs 3,850 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

Prior to the 2023 revision, there are no figures available for the guideline values from the years mentioned. The only revisions that provide figures for this street are from 2023 and 2024.

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 the village is Rs 2,750 per sq.ft, placing Sivaprakasa Nagar 2nd Street's 2024 figure above that median.

Stamp duty and registration fee for property in Sivaprakasa Nagar 2nd 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 fees together 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivaprakasa Nagar 2nd Street?

The Sub Registrar Office that covers Sivaprakasa Nagar 2nd Street 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 details.

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

The guideline value is crucial during the registration process of property transactions in Madipakkam-1. It serves as a reference point for determining the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the guideline value is used to ensure that the transaction is registered at a value that reflects the current market conditions. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, representing a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017 for this street.

What is the land classification of Sivaprakasa Nagar 2nd Street?

Sivaprakasa Nagar 2nd Street is classified as Residential Class I Type - I. This classification indicates the nature of land use in the area.

How is stamp duty calculated for properties in this area?

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

Where can I find the Sub Registrar Office for Sivaprakasa Nagar 2nd Street?

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