Guideline Value for Compact Homes-Madhulika

Compact Homes-Madhulika guideline value

The current guideline value of Compact Homes-Madhulika is Rs 1,000 per sq.ft, effective from 1 July 2024. This property is located in Karanaithangal village, under the Sunguvarchattram SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Compact Homes-Madhulika has changed

The guideline value for Compact Homes-Madhulika has seen several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 1,000 per sq.ft in the 2023 revision, maintaining this figure into the 2024 revision with no change.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has remained stable, showing a change of 0% over this period. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karanaithangal

In Karanaithangal, there are 17 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 471 to Rs 1,000 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Compact Homes-Madhulika is above this median.

• Compact Homes-Megha: Rs 1,000 per sq.ft (2024)
• Compact Homes-Vasanthaa: Rs 1,000 per sq.ft (2024)
• Compact Homs-Atana: Rs 1,000 per sq.ft (2024)
• Amman Koil Street: Rs 500 per sq.ft (2024)
• Ambethkar Street: Rs 500 per sq.ft (2024)
• JanRathinam Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Compact Homes-Madhulika

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Compact Homes-Madhulika?

The Compact Homes-Madhulika property falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Karanaithangal. It determines the stamp duty and registration fees that need to be paid during the transaction, ensuring that the government receives the appropriate revenue from property sales.

When registering a property, the buyer must pay the stamp duty on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Compact Homes-Madhulika?

The current guideline value of Compact Homes-Madhulika is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has fluctuated over the years, with the most recent revision in 2024 maintaining the value at Rs 1,000 per sq.ft. This is the same value as in 2023, while it was Rs 670 per sq.ft in 2017.

What is the land classification for Compact Homes-Madhulika?

Compact Homes-Madhulika is classified as Commercial Class I Type - II. This classification can affect the types of developments allowed on the property.

Where can I find the registration office for this property?

The registration office for Compact Homes-Madhulika is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 70,000.