Guideline Value for C.K.M. Nagar

C.K.M. Nagar guideline value

The current guideline value of C.K.M. Nagar in Madhavaram village, under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of C.K.M. Nagar has changed

The guideline value for C.K.M. Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to Rs 1,200 per sq.ft, and the latest revision in 2024 has further increased it to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

It is important to note that 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 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO carrying 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 C.K.M. Nagar is below this median.

• C.K.M. Nagar 2nd St ( Ward No.5 ): Rs 1,300 per sq.ft (2024)
• C.K.M. Nagar (Edapalayam): Rs 1,300 per sq.ft (2024)
• C.K.M. Nagar Road ( Ward No.5 ): Rs 1,300 per sq.ft (2024)
• C.K.M. Nagar (Ward-05): Rs 1,300 per sq.ft (2024)
• City Nest Road ( Ward No.16 ): Rs 1,600 per sq.ft (2024)
• City Nest Home: Rs 1,600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total charges Rs 1,17,000. Please note that the 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 detailed calculations.

Which Sub Registrar Office covers C.K.M. Nagar?

The Sub Registrar Office that covers C.K.M. Nagar 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 important factor in property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration norms.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the registration process. This ensures that the transaction is recorded accurately and legally.

Frequently asked questions

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

The current guideline value of C.K.M. Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of C.K.M. Nagar?

C.K.M. Nagar is classified as Residential Class III Type - I, which indicates its suitability for residential development.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in C.K.M. Nagar?

Stamp duty in C.K.M. Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.