Guideline Value for C.K. Madhavan Nagar Extension

C.K. Madhavan Nagar Extension guideline value

The current guideline value of C.K. Madhavan Nagar Extension is Rs 1,004 per sq.ft, effective from 1 July 2024. This property is located in Vadaperumbakkam village and falls under the Redhills SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of C.K. Madhavan Nagar Extension has changed

The guideline value for C.K. Madhavan Nagar Extension has undergone several revisions over the years. Starting from Rs 31 per sq.ft in 2003, the value increased significantly to Rs 300 per sq.ft in 2007. The value then rose to Rs 600 per sq.ft in 2012, but saw a decrease to Rs 402 per sq.ft in 2017. The value was revised to Rs 600 per sq.ft in 2023, and currently stands at Rs 1,004 per sq.ft as of the 2024 revision. Notably, there is no figure available for the year 2002 for this street.

In terms of percentage changes, the guideline value increased by 868% from 2003 to 2007, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The most significant change was observed from 2023 to 2024, with an increase of 67%. Overall, the guideline value has increased by 3,139% from 2003 to 2024.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that carry a guideline value for 2024, ranging from Rs 1,000 to Rs 1,300 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, and the value for C.K. Madhavan Nagar Extension is above this median.

• Co-operative Nagar: Rs 1,000 per sq.ft (2024)
• Cherriyan Nagar: Rs 1,006 per sq.ft (2024)
• Chelliyamman Nagar: Rs 1,003 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 1,006 per sq.ft (2024)
• Buneshwari Nagar: Rs 1,006 per sq.ft (2024)
• Bhuvaneswari Avenue: Rs 1,004 per sq.ft (2024)

Stamp duty and registration fee for property in C.K. Madhavan Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,004 per sq.ft, the guideline value amounts to Rs 10,04,000. The stamp duty at 7% would be Rs 70,280, and the registration fee at 2% would be Rs 20,080, bringing the total to Rs 90,360. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers C.K. Madhavan Nagar Extension?

The Sub Registrar Office that covers C.K. Madhavan Nagar Extension is the Redhills Sub Registrar Office. The address is Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Vadaperumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers and sellers to be aware of the current guideline value to make informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of C.K. Madhavan Nagar Extension?

The current guideline value of C.K. Madhavan Nagar Extension is Rs 1,004 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 31 per sq.ft in 2003 to Rs 1,004 per sq.ft in 2024, reflecting an overall increase of 3,139% over this period.

What are the stamp duty and registration fees for property in C.K. Madhavan Nagar Extension?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 90,360.

Which Sub Registrar Office covers C.K. Madhavan Nagar Extension?

The Redhills Sub Registrar Office covers C.K. Madhavan Nagar Extension, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value used in property transactions?

The guideline value is used as a benchmark for determining the minimum registration value of a property. It ensures that the government collects the appropriate revenue through stamp duty and registration fees during property transactions.