Guideline Value for Dhansingh Maistry St ( Ward No.17 )

Dhansingh Maistry St ( Ward No.17 ) guideline value

The current guideline value of Dhansingh Maistry St ( Ward No.17 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Dhansingh Maistry St ( Ward No.17 ) has changed

Over the years, the guideline value of Dhansingh Maistry St has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where it was Rs 1,005 per sq.ft. The 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen an increase of 7%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is equal to the current value of Dhansingh Maistry St.

• Dharmalingam Nagar Phase - I & Phase - II: Rs 2,200 per sq.ft (2024)
• Dhanasingh Maistry Street: Rs 1,600 per sq.ft (2024)
• Dilli Avenue, Ponniammanmedu (Ward-24): Rs 1,600 per sq.ft (2024)
• Dhanalakshmi Nagar, Srisathya Sai Nagar (Ward-07): Rs 1,300 per sq.ft (2024)
• Dmante Avenue (Ward-18): Rs 1,600 per sq.ft (2024)
• Douwleth Bee Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dhansingh Maistry St ( Ward No.17 )

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, bringing the total to 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 detailed calculations.

Which Sub Registrar Office covers Dhansingh Maistry St ( Ward No.17 )?

The Sub Registrar Office that covers Dhansingh Maistry St ( Ward No.17 ) 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 during the registration of property transactions in Madhavaram. It is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, the guideline value is taken into account to determine the legal obligations for both parties involved in the transaction. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Dhansingh Maistry St?

The current guideline value of Dhansingh Maistry St ( Ward No.17 ) 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 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, which is a 7% increase. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification for Dhansingh Maistry St?

Dhansingh Maistry St is classified as Residential Class II Type - I. This classification affects the guideline value and the types of properties allowed in the area.

Where can I find the Sub Registrar Office for this street?

The Madhavaram Sub Registrar Office covers Dhansingh Maistry St and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 1,44,000.