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Guideline Value

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Guideline Value for Alex Nager B Colony Lakshmi Nager (Ward-16)

₹2200/sq.ft.

The guideline value for Alex Nager B Colony Lakshmi Nager (ward-16) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /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.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[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 Alex Nager B Colony Lakshmi Nager (ward-16)

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Alex Nager B Colony Lakshmi Nager (Ward-16) guideline value

The current guideline value of Alex Nager B Colony Lakshmi Nager (Ward-16) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Alex Nager B Colony Lakshmi Nager (Ward-16) has changed

Since the 2017 revision, the guideline value has seen significant increases. The 2017 revision set the value at Rs 1,340 per sq.ft, which then rose to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 has further increased the value to Rs 2,200 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from 2017 to 2024, 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 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. The median guideline value in this area is Rs 1,600 per sq.ft, positioning Alex Nager B Colony Lakshmi Nager (Ward-16) above this median.

Stamp duty and registration fee for property in Alex Nager B Colony Lakshmi Nager (Ward-16)

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 fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Alex Nager B Colony Lakshmi Nager (Ward-16)?

The Sub Registrar Office that covers Alex Nager B Colony Lakshmi Nager (Ward-16) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is documented at a fair value.

When a property is registered, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that all transactions are conducted transparently and in accordance with the established regulations.

Frequently asked questions

What is the current guideline value of Alex Nager B Colony Lakshmi Nager (Ward-16)?

The current guideline value of Alex Nager B Colony Lakshmi Nager (Ward-16) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024. This represents an overall increase of 64% over the seven years.

What is the stamp duty for property in this area?

The stamp duty for property in Alex Nager B Colony Lakshmi Nager (Ward-16) is calculated at 7% of the guideline value. For a property valued at Rs 22,00,000, the stamp duty would amount to Rs 1,54,000.

Where can I find the Sub Registrar Office for this area?

The Madhavaram Sub Registrar Office covers Alex Nager B Colony Lakshmi Nager (Ward-16) and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Alex Nager B Colony Lakshmi Nager?

Alex Nager B Colony Lakshmi Nager is classified as Residential Class I Type - I, indicating its primary use for residential purposes.