Guideline Value for Chandra Prabhu Colony (Ward-20)

Chandra Prabhu Colony (Ward-20) guideline value

The current guideline value of Chandra Prabhu Colony (Ward-20) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is part of Madhavaram village and falls under the Madhavaram SRO. The land classification for this locality is Residential Class II Type - I.

How the guideline value of Chandra Prabhu Colony (Ward-20) has changed

The guideline value for Chandra Prabhu Colony has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft. This increased to Rs 1,005 per sq.ft in 2017, marking a decrease of 16%. However, the value rose significantly to Rs 1,500 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, which is a 7% increase from the previous year.

It is important to note that there are no figures available for Chandra Prabhu Colony in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Madhavaram

Madhavaram village has a total of 1946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for the area is Rs 1,600 per sq.ft, which matches the current value for Chandra Prabhu Colony.

• Chandraprabhu Layout & 1st cross st (Ward No.20): Rs 1,600 per sq.ft (2024)
• Chandraprabhu Layout 2nd Main Rd (Ward No.20): Rs 1,600 per sq.ft (2024)
• Chandraprabhu Layout 3rd Main Road (Ward No.20): Rs 1,600 per sq.ft (2024)
• Chandra Prabu Colony: Rs 1,600 per sq.ft (2024)
• Chamundeeswari Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Chakrapani Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chandra Prabhu Colony (Ward-20)

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Chandra Prabhu Colony (Ward-20)?

The Sub Registrar Office that covers Chandra Prabhu Colony (Ward-20) 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 plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value of a property for registration purposes.

When a property transaction occurs, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these charges are based on a standardized valuation rather than fluctuating market prices.

Frequently asked questions

What is the current guideline value of Chandra Prabhu Colony?

The current guideline value of Chandra Prabhu Colony (Ward-20) is Rs 1,600 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 1,600 per sq.ft in 2024, reflecting an overall increase of 33% over this period.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 16,00,000, the total fees would be Rs 1,44,000.

Where is the Madhavaram Sub Registrar Office located?

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

What is the land classification of Chandra Prabhu Colony?

The land classification for Chandra Prabhu Colony is Residential Class II Type - I.