Guideline Value for Big Street (Periya Salai)

Big Street (Periya Salai) guideline value

The current guideline value for Big Street (Periya Salai) in Madhavaram village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Big Street (Periya Salai) has changed

The guideline value for Big Street (Periya Salai) has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was set at Rs 2,000 per sq.ft. The most recent revision in 2024 increased this value to Rs 2,200 per sq.ft, reflecting a change of +10% from the 2012 figure.

There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street. Thus, the only available figures are from 2012 and 2024.

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 for Big Street (Periya Salai) is above this median, indicating its higher valuation compared to many other streets in the area.

• Binny Colony: Rs 1,300 per sq.ft (2024)
• Binny Nagar Cross st ( Ward No.4 ): Rs 1,300 per sq.ft (2024)
• Binny Nagar Main Rd ( Ward No.4 ): Rs 1,300 per sq.ft (2024)
• Bishop Esra Nagar: Rs 1,300 per sq.ft (2024)
• Bhavani Nagar (Ward-01): Rs 1,300 per sq.ft (2024)
• Bhavani Nagar, Lakshmipuram (Ward-26): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Big Street (Periya Salai)

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, leading to a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Big Street (Periya Salai)?

The Sub Registrar Office that covers Big Street (Periya Salai) 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

When buying or selling property in Madhavaram, the guideline value plays a crucial role in the registration process. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair valuation according to government standards.

During the registration of a property, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Big Street (Periya Salai)?

The current guideline value for Big Street (Periya Salai) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Big Street (Periya Salai) was Rs 2,000 per sq.ft in 2012 and increased to Rs 2,200 per sq.ft in 2024, reflecting a change of +10%.

Are there any years with no recorded guideline value for this street?

Yes, there are no recorded guideline values for Big Street (Periya Salai) in the years 2002, 2003, 2007, 2017, and 2023.

What is the registration office for Big Street (Periya Salai)?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covers Big Street (Periya Salai).

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.