Guideline Value for Alex Nagar V Colony

Alex Nagar V Colony guideline value

The current guideline value of Alex Nagar V Colony is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Alex Nagar V Colony has changed

The guideline value for Alex Nagar V Colony has seen several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft. This increased to Rs 1,340 per sq.ft in 2017, marking a 12% rise. The value then rose significantly to Rs 2,000 per sq.ft in 2023, which is a 49% increase from the previous revision. The latest revision in 2024 sets the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the 2023 figure.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 83%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Alex Nagar V Colony at Rs 2,200 per sq.ft is above this median.

• Alex Nagar Main Road (Ward-08): Rs 2,200 per sq.ft (2024)
• Alex Nager B Colony Avvaiyarstreet (Ward-16): Rs 2,200 per sq.ft (2024)
• Alex Nagar D Colony (Ward-08): Rs 2,200 per sq.ft (2024)
• Alex Nager B Colony Kannadasan Nager (Ward-16): Rs 2,200 per sq.ft (2024)
• Alex Nagar D - Colony 3rd st (Ward No.8): Rs 2,200 per sq.ft (2024)
• Alex Nager B Colony Lakshmi Nager (Ward-16): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Alex Nagar V Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Alex Nagar V Colony?

The Sub Registrar Office that covers Alex Nagar V Colony is 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 is a crucial factor in the registration process for property transactions in Madhavaram. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Alex Nagar V Colony?

The current guideline value of Alex Nagar V Colony is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,200 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 83% over this period.

What is the land classification of Alex Nagar V Colony?

Alex Nagar V Colony is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property in Alex Nagar V Colony?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Alex Nagar V Colony located?

The Sub Registrar Office for Alex Nagar V Colony is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.