Guideline Value for A.D.V. Nagar (Ward-01)

A.D.V. Nagar (Ward-01) guideline value

The current guideline value of A.D.V. Nagar (Ward-01) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of A.D.V. Nagar (Ward-01) has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,500 per sq.ft. However, the 2024 revision saw an increase to Rs 1,600 per sq.ft, marking a 7% rise from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. This steady increase reflects the recent adjustments made in the guideline values for properties in the area.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with a 2024 guideline value range from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, which is equal to the current guideline value of A.D.V. Nagar (Ward-01).

• Adinath Nagar (Ward 11): Rs 2,200 per sq.ft (2024)
• Adhivasi Colony: Rs 1,300 per sq.ft (2024)
• Adhi Sesha Nagar (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Adhi Nagar: Rs 1,300 per sq.ft (2024)
• Adhilakshmi Nagar (Ward No.26): Rs 1,300 per sq.ft (2024)
• Abirami Nagar (Ward-29): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in A.D.V. Nagar (Ward-01)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000, bringing the total cost to Rs 1,44,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers A.D.V. Nagar (Ward-01)?

A.D.V. Nagar (Ward-01) is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madhavaram

The guideline value plays a crucial role during the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration reflects the true value of the transaction, safeguarding both the buyer and the seller's interests.

Frequently asked questions

What is the current guideline value of A.D.V. Nagar (Ward-01)?

The current guideline value of A.D.V. Nagar (Ward-01) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft from 2012 to 2023. In 2024, it increased to Rs 1,600 per sq.ft, marking a total increase of 7% from 2012 to 2024.

What is the stamp duty for property in A.D.V. Nagar (Ward-01)?

The stamp duty for property in A.D.V. Nagar is 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000.

Which office handles property registrations for A.D.V. Nagar?

The Madhavaram Sub Registrar Office handles property registrations for A.D.V. Nagar (Ward-01). It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What land classification is A.D.V. Nagar (Ward-01)?

A.D.V. Nagar (Ward-01) is classified as Residential Class II Type - I, indicating its suitability for residential development.