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Guideline Value

Corporate

Guideline Value for Sivaprakasa Nagar 7th Cross Street

₹3850/sq.ft.

The guideline value for Sivaprakasa Nagar 7th 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 ₹2345 /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 Sivaprakasa Nagar 7th Cross Street

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Sivaprakasa Nagar 7th Cross Street guideline value

The current guideline value of Sivaprakasa Nagar 7th Cross Street is Rs 3,850 per sq.ft. This street is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sivaprakasa Nagar 7th Cross Street has changed

The guideline value for Sivaprakasa Nagar 7th Cross Street has undergone several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 2,345 per sq.ft. This figure increased to Rs 3,500 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 sets the guideline value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, 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 a total of 1823 streets under the Velacheri SRO, with the 2024 guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for this village is Rs 2,750 per sq.ft, placing Sivaprakasa Nagar 7th Cross Street's 2024 figure above that median.

Stamp duty and registration fee for property in Sivaprakasa Nagar 7th 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 would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sivaprakasa Nagar 7th Cross Street?

The Sub Registrar Office that covers Sivaprakasa Nagar 7th Cross 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 information.

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

The guideline value is a critical factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a property is registered, the guideline value is used to calculate the necessary fees. Buyers should be aware that the fees 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 Sivaprakasa Nagar 7th Cross Street?

The current guideline value of Sivaprakasa Nagar 7th Cross Street is Rs 3,850 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers this street?

The Velacheri Sub Registrar Office covers Sivaprakasa Nagar 7th Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Sivaprakasa Nagar 7th Cross Street?

The land classification for Sivaprakasa Nagar 7th Cross Street is Residential Class I Type - I.