Guideline Value for Tamilselvi Street

Tamilselvi Street guideline value

The current guideline value of Tamilselvi 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, classified as Residential Class I Type - III.

How the guideline value of Tamilselvi Street has changed

The guideline value for Tamilselvi Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, which reflects a 10% increase from Rs 2,500 per sq.ft in the 2023 revision. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the last recorded figures for this street were not available. The 2024 figure aligns with the median value of Rs 2,750 per sq.ft for the 1823 streets in Madipakkam-1 that have a 2024 guideline value.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft, with the median value being Rs 2,750 per sq.ft. Tamilselvi Street's 2024 guideline value matches this median.

• Swamy Nagar (Main)/Murugappan Street: Rs 2,750 per sq.ft (2024)
• Swamy Nagar Extension II , Murugappan Street: Rs 2,750 per sq.ft (2024)
• Swamy Nagar Extension: Rs 2,750 per sq.ft (2024)
• Swamy Nagar Anjaneyar Koil Street: Rs 2,750 per sq.ft (2024)
• Swaminathan Street, Ramurthi Nagar: Rs 2,750 per sq.ft (2024)
• Thangal Salai (Sadasiva Nagar): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Tamilselvi 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. Duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tamilselvi Street?

The Velacheri Sub Registrar Office covers Tamilselvi Street. The office is 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 an important factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of property.

When a property is bought or sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency and accountability in real estate dealings. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Tamilselvi Street?

The current guideline value of Tamilselvi Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Tamilselvi Street?

Tamilselvi Street is classified as Residential Class I Type - III under the Velacheri SRO.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, on a 1,000 sq.ft plot, the total guideline value would be Rs 27,50,000, resulting in a stamp duty of Rs 1,92,500 and a registration fee of Rs 55,000.

Where is the Sub Registrar Office for Tamilselvi Street located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles the registrations for Tamilselvi Street.