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Guideline Value

Corporate

Guideline Value for Bank Colony 5th st ( Ward No.3 )

₹2200/sq.ft.

The guideline value for Bank Colony 5th 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 5th St ( Ward No.3 )

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Bank Colony 5th st ( Ward No.3 ) guideline value

The current guideline value of Bank Colony 5th 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, classified as Residential Class I Type - I.

How the guideline value of Bank Colony 5th st ( Ward No.3 ) has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 1,340 per sq.ft, marking a decrease of 33%. Following this, the 2023 revision saw a significant increase to Rs 2,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The 2017 revision had a notable increase of 49% when compared to the 2023 figure. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, the guideline values for 2024 range 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 Bank Colony 5th st ( Ward No.3 ) is above this median.

Stamp duty and registration fee for property in Bank Colony 5th 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 would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Bank Colony 5th st ( Ward No.3 )?

The Sub Registrar Office that covers Bank Colony 5th 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 is an essential factor in property transactions in Madhavaram, as it determines the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees, which are mandatory for legal property transfers.

When buying or selling property, it is crucial to consider the guideline value, as it ensures that the transaction is compliant with local regulations. Buyers should be aware that the guideline value may influence the overall cost of the property transaction, including additional fees.

Frequently asked questions

What is the current guideline value of Bank Colony 5th st ( Ward No.3 )?

The current guideline value of Bank Colony 5th 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 seen several revisions, with the most recent change being a rise from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. The value has increased overall by 10% from 2012 to 2024.

What are the stamp duty and registration fees for property in Bank Colony 5th st ( Ward No.3 )?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Bank Colony 5th st ( Ward No.3 )?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covers Bank Colony 5th st ( Ward No.3 ).

What is the land classification of Bank Colony 5th st ( Ward No.3 )?

Bank Colony 5th st ( Ward No.3 ) is classified as Residential Class I Type - I.