Guideline Value for Co-Operative Nagar (Ward-02)

Co-Operative Nagar (Ward-02) guideline value

The current guideline value of Co-Operative Nagar (Ward-02) is Rs 2,200 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 I Type - I.

How the guideline value of Co-Operative Nagar (Ward-02) has changed

Over the years, the guideline value of Co-Operative Nagar has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the current 2024 revision has set it at Rs 2,200 per sq.ft. The register has no figure for this street in the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Co-Operative Nagar's 2024 figure above that median.

• Co-operative Nagar Part-I: Rs 2,200 per sq.ft (2024)
• Commissioner Office , Mmc (Ward-05): Rs 1,600 per sq.ft (2024)
• Cmda (Ward-11): Rs 1,600 per sq.ft (2024)
• C.K.M. Nagar (Ward-05): 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 (Edapalayam): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Co-Operative Nagar (Ward-02)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Co-Operative Nagar (Ward-02)?

The Sub Registrar Office that covers Co-Operative Nagar (Ward-02) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, visit find your SRO.

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 serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When you buy or sell property in Co-Operative Nagar, the guideline value will influence the stamp duty and registration fees you are required to pay. It is essential to be aware of these values to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Co-Operative Nagar (Ward-02)?

The current guideline value of Co-Operative Nagar (Ward-02) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and is currently Rs 2,200 per sq.ft in 2024.

What is the land classification of Co-Operative Nagar (Ward-02)?

Co-Operative Nagar (Ward-02) is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property in Co-Operative Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, with stamp duty at Rs 1,54,000 and registration fees at Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Co-Operative Nagar (Ward-02)?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, handles property registrations for Co-Operative Nagar (Ward-02).