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Guideline Value

Corporate

Guideline Value for Bank Colony 1st st ( Ward No.3 )

₹2200/sq.ft.

The guideline value for Bank Colony 1st St ( Ward No.3 ) 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 ₹2000 /sq.ft.
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 Bank Colony 1st St ( Ward No.3 )

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Bank Colony 1st st ( Ward No.3 ) guideline value

The current guideline value of Bank Colony 1st st ( Ward No.3 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bank Colony 1st st ( Ward No.3 ) has changed

The guideline value for Bank Colony 1st st ( Ward No.3 ) has undergone several revisions over the years. The earliest available revision is from 2012, where the guideline value was Rs 2,000 per sq.ft. This figure remained until the next revision in 2017, which saw a decrease to Rs 1,340 per sq.ft. However, from 2017 to 2023, the guideline value increased significantly by 49% to reach Rs 2,000 per sq.ft. The most recent revision in 2024 has raised the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value in the village is Rs 1,600 per sq.ft, placing the 2024 figure for Bank Colony 1st st ( Ward No.3 ) above this median.

Stamp duty and registration fee for property in Bank Colony 1st st ( Ward No.3 )

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 together to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bank Colony 1st st ( Ward No.3 )?

The Sub Registrar Office that covers Bank Colony 1st st ( Ward No.3 ) 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 plays a crucial role during the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the buyer and seller must refer to the guideline value to ensure compliance with local regulations. This helps in maintaining transparency and accountability in property dealings, ensuring that the correct fees are paid during the registration process.

Frequently asked questions

What is the current guideline value of Bank Colony 1st st ( Ward No.3 )?

The current guideline value of Bank Colony 1st st ( Ward No.3 ) 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Bank Colony 1st st ( Ward No.3 )?

Bank Colony 1st st ( Ward No.3 ) is classified as Residential Class I Type - I.

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

The Sub Registrar Office for Bank Colony 1st st ( Ward No.3 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Bank Colony 1st st ( Ward No.3 )?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.