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Guideline Value

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Guideline Value for Swamy Nagar (Main)/Murugappan Street

₹2750/sq.ft.

The guideline value for Swamy Nagar (main)/murugappan Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1675 /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 Swamy Nagar (main)/murugappan Street

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Swamy Nagar (Main)/Murugappan Street guideline value

The current guideline value of Swamy Nagar (Main)/Murugappan Street is Rs 2,750 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 - III.

How the guideline value of Swamy Nagar (Main)/Murugappan Street has changed

The guideline value for Swamy Nagar (Main)/Murugappan Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, while the latest revision in 2024 saw a significant increase to Rs 2,750 per sq.ft, marking a change of +64% from 2017 to 2024. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street.

To summarize the revisions, the 2017 guideline value was Rs 1,675 per sq.ft, and the current value of Rs 2,750 per sq.ft reflects the 2024 revision. This increase indicates a notable change in the guideline value over the seven-year period.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 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 value for these streets is Rs 2,750 per sq.ft, which is the same as the 2024 guideline value for Swamy Nagar (Main)/Murugappan Street.

Stamp duty and registration fee for property in Swamy Nagar (Main)/Murugappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, resulting in a total of Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Swamy Nagar (Main)/Murugappan Street?

The Sub Registrar Office that covers Swamy Nagar (Main)/Murugappan 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 crucial factor when buying or selling property in Madipakkam-1. It serves as a reference point for determining the stamp duty and registration fees, which are mandatory for property transactions. The guideline value helps ensure that the transaction is registered at a fair value, reflecting the local market conditions.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable duties and fees. This ensures compliance with the regulations set by the Registration Department and helps facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value for Swamy Nagar (Main)/Murugappan Street?

The current guideline value for Swamy Nagar (Main)/Murugappan Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft in 2024, representing a change of +64%.

What is the land classification for Swamy Nagar (Main)/Murugappan Street?

Swamy Nagar (Main)/Murugappan Street is classified as Residential Class I Type - III.

Where can I find the registration office for this area?

The registration office for Swamy Nagar (Main)/Murugappan Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Madipakkam-1?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.