Guideline Value for Cattle Field (Ward-16)

Cattle Field (Ward-16) guideline value

The current guideline value for Cattle Field (Ward-16) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Cattle Field (Ward-16) has changed

The guideline value for Cattle Field (Ward-16) has seen several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. However, from 2017 to the upcoming 2024 revision, the value has increased significantly to Rs 1,300 per sq.ft, marking a 62% rise. Overall, from 2012 to 2024, there has been a slight increase of 8%.

It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 in the register for this street. Thus, the only revisions with figures are from 2012, 2017, and the forthcoming 2024 revision.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as per the 2024 revision. The median guideline value in the village is Rs 1,600 per sq.ft, indicating that Cattle Field (Ward-16) is below this median.

• Burma Colony Main Road (Ward No.19): Rs 1,300 per sq.ft (2024)
• Burma Colony Anna Street: Rs 1,300 per sq.ft (2024)
• Burma Colony 4th st (Ward No.19): Rs 1,300 per sq.ft (2024)
• Burma Colony 3rd st (Ward No.19): Rs 1,300 per sq.ft (2024)
• Burma Colony 2nd st (Ward No.19): Rs 1,300 per sq.ft (2024)
• Burma Colony 1st st (Ward No.19): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Cattle Field (Ward-16)

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 cost Rs 1,17,000. Please note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Cattle Field (Ward-16)?

The Cattle Field (Ward-16) area is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is an important factor when registering property in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Cattle Field (Ward-16)?

The current guideline value of Cattle Field (Ward-16) 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, and then increased to Rs 1,300 per sq.ft in 2024. This represents a 62% increase from 2017 to 2024.

What is the land classification of Cattle Field (Ward-16)?

Cattle Field (Ward-16) is classified as Residential Class III Type - I according to the local land classification regulations.

What are the stamp duty and registration fees for properties in Cattle Field (Ward-16)?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,17,000.

Which office handles property registration for Cattle Field (Ward-16)?

The Madhavaram Sub Registrar Office handles property registration for Cattle Field (Ward-16), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.