Guideline Value for Chandraprabhu Layout 2nd Main Rd ( Ward No.20 )

Chandraprabhu Layout 2nd Main Rd ( Ward No.20 ) guideline value

The current guideline value of Chandraprabhu Layout 2nd Main Rd ( Ward No.20 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This property is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Chandraprabhu Layout 2nd Main Rd ( Ward No.20 ) has changed

Over the years, the guideline value for Chandraprabhu Layout 2nd Main Rd has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,600 per sq.ft from the 2024 revision, marking a 7% increase from the previous year.

From 2012 to 2017, there was a decrease of 16%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, there has been a 33% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

The guideline values for properties in Madhavaram range from Rs 1,300 to Rs 7,500 per sq.ft as per the 2024 revision, with the median value being Rs 1,600 per sq.ft. The guideline value for Chandraprabhu Layout 2nd Main Rd aligns with this median.

• Chandraprabhu Layout & 1st cross st ( 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 Prabhu Colony (Ward-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 Chandraprabhu Layout 2nd Main Rd ( Ward No.20 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost for these fees Rs 1,44,000. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chandraprabhu Layout 2nd Main Rd ( Ward No.20 )?

The Sub Registrar Office that covers Chandraprabhu Layout 2nd Main Rd ( Ward No.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 is a crucial factor when registering property transactions in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to assess the tax obligations that arise from the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Chandraprabhu Layout 2nd Main Rd?

The current guideline value for Chandraprabhu Layout 2nd Main Rd ( Ward No.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 undergone several changes, increasing from Rs 1,200 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, with notable changes in 2017 and 2023 as well.

What is the land classification for this area?

Chandraprabhu Layout 2nd Main Rd is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for this area?

The registration office for Chandraprabhu Layout 2nd Main Rd is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the total fees would amount to Rs 1,44,000.