Guideline Value for Dr. Shivaji Nagar

Dr. Shivaji Nagar guideline value

The current guideline value for Dr. Shivaji Nagar is Rs 3,190 per sq.ft, effective from 1 July 2024. This area is located in Madanandapuram village, under the Kunrathur SRO, and is classified as Residential Special Type - III.

How the guideline value of Dr. Shivaji Nagar has changed

The guideline value for Dr. Shivaji Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 2,900 per sq.ft in 2012, marking a rise of 625%. However, it then decreased to Rs 1,943 per sq.ft in 2017, reflecting a decline of 33%. The value saw a substantial increase of 49% to reach Rs 2,900 per sq.ft in 2023, and further rose by 10% to its current figure of Rs 3,190 per sq.ft in 2024.

The register does not provide figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 698%.

Guideline values in Madanandapuram

In Madanandapuram, there are 94 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 5,830 per sq.ft, with a median value of Rs 3,520 per sq.ft. The guideline value for Dr. Shivaji Nagar is below this median.

• Dr.Sivaji Nagar Extension: Rs 3,190 per sq.ft (2024)
• E.V.P. Rajeswari Avenue: Rs 3,960 per sq.ft (2024)
• E.V.P. Santhosh Annuxe / Extension: Rs 3,960 per sq.ft (2024)
• E.V.P. Santhosh Nagar: Rs 3,960 per sq.ft (2024)
• E.V.P. Santhosh Nagar Extension: Rs 3,960 per sq.ft (2024)
• E,.V.P. Santhosh Nagar Extension II: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Shivaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value would be Rs 31,90,000. The stamp duty at 7% would amount to Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, bringing the total to Rs 2,87,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Dr. Shivaji Nagar?

The Sub Registrar Office that covers Dr. Shivaji Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Madanandapuram. It is used to determine the stamp duty and registration fees that are applicable during the registration process. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in a property transaction, it is essential to consider the guideline value as it directly impacts the overall cost of registration. Understanding these values can help buyers and sellers make informed decisions during the property transaction process.

Frequently asked questions

What is the current guideline value of Dr. Shivaji Nagar?

The current guideline value of Dr. Shivaji Nagar is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 3,190 per sq.ft in 2024, reflecting an overall increase of 698% over the years.

What are the stamp duty rates for property in Dr. Shivaji Nagar?

The stamp duty for property in Dr. Shivaji Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value determined for properties in Madanandapuram?

The guideline value for properties in Madanandapuram is determined by the Registration Department's guideline value register, which is revised periodically based on various factors.