Guideline Value

Corporate

Guideline Value for Sri Sankara Nagar

₹1650/sq.ft.

The guideline value for Sri Sankara Nagar 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 Sri Sankara Nagar

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Sri Sankara Nagar guideline value

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

How the guideline value of Sri Sankara Nagar has changed

The guideline value for Sri Sankara Nagar has seen several revisions over the years. The earliest available revision is from 2017, which set the value at Rs 1,005 per sq.ft. This increased to Rs 1,500 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 1,650 per sq.ft, representing a further increase of 10% 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 years 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 carry 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 Sri Sankara Nagar's 2024 figure below that median.

Stamp duty and registration fee for property in Sri Sankara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to 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.

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

Which Sub Registrar Office covers Sri Sankara Nagar?

The Sub Registrar Office that covers Sri Sankara Nagar 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 crucial factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When a buyer or seller engages in a property transaction, the guideline value is referenced to ensure compliance with the legal requirements for registration. The fees are calculated based on this value, ensuring that both parties adhere to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Sri Sankara Nagar?

The current guideline value of Sri Sankara Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024, representing an overall increase of 64%.

What is the registration office for Sri Sankara Nagar?

The registration office for Sri Sankara Nagar 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 properties in Sri Sankara Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.

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

Other streets in Madipakkam-1 have varying guideline values. For instance, Sri Ramulu Street has a guideline value of Rs 1,650 per sq.ft, while Sri Vidhya Nagar, Sri Ram avenue, and Sri Ramar Koil Street each have a guideline value of Rs 2,750 per sq.ft.