Explore LandLens: verify, value, build-check, track & transact smarter

Guideline Value

Corporate

Guideline Value for Bank Colony 6th st ( Ward No.3 )

₹2200/sq.ft.

The guideline value for Bank Colony 6th 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 6th St ( Ward No.3 )

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Bank Colony 6th st ( Ward No.3 ) guideline value

The current guideline value of Bank Colony 6th 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 6th st ( Ward No.3 ) has changed

The guideline value for Bank Colony 6th st has seen several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft. This value decreased to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. However, by 2023, the value increased to Rs 2,000 per sq.ft, followed by a further increase to Rs 2,200 per sq.ft in 2024, which represents a 10% rise from the previous year.

Between 2017 and 2023, the value rose significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 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 this area is Rs 1,600 per sq.ft, placing Bank Colony 6th st's 2024 figure above this median.

Stamp duty and registration fee for property in Bank Colony 6th 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 to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bank Colony 6th st ( Ward No.3 )?

The Sub Registrar Office that covers Bank Colony 6th 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 a crucial factor when registering property transactions in Madhavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government collects the appropriate dues during the sale or purchase of real estate.

When a buyer or seller engages in a property transaction, the guideline value helps determine the minimum value at which a property can be registered. This value is essential for both parties to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Bank Colony 6th st ( Ward No.3 )?

The current guideline value of Bank Colony 6th 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 back 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 6th st ( Ward No.3 )?

Bank Colony 6th st ( Ward No.3 ) is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Bank Colony 6th st ( Ward No.3 )?

The Sub Registrar Office for Bank Colony 6th 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 6th st ( Ward No.3 )?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.