Guideline Value for Ettiappan Nagar Govindan Street (Ward 29)

Ettiappan Nagar Govindan Street (Ward 29) guideline value

The current guideline value of Ettiappan Nagar Govindan Street (Ward 29) is Rs 1,300 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 III Type - I.

How the guideline value of Ettiappan Nagar Govindan Street (Ward 29) has changed

Over the years, the guideline value for Ettiappan Nagar Govindan Street has undergone several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 804 per sq.ft. The value remained at Rs 1,200 per sq.ft in 2012 and then increased to Rs 1,200 per sq.ft in 2023, before rising to Rs 1,300 per sq.ft in the 2024 revision, representing an 8% increase.

From 2017 to 2023, there was a significant increase of 49%, bringing the value from Rs 804 per sq.ft to Rs 1,200 per sq.ft. The overall change from 2012 to 2024 shows an increase of 8%, moving from Rs 1,200 per sq.ft to Rs 1,300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

Madhavaram village features a range of guideline values across its 1,946 streets, with the 2024 figures varying from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing Ettiappan Nagar Govindan Street's 2024 figure below that median.

• Ettiappan Nagar Kanniappan Street (Ward 29): Rs 1,300 per sq.ft (2024)
• Ettiappan Nagar (Ward-29): Rs 1,300 per sq.ft (2024)
• Ettiappan Salai, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Ettiappan st (Ward No.22): Rs 1,300 per sq.ft (2024)
• Ethiraj Nagar (Ward-29): Rs 1,300 per sq.ft (2024)
• Ethiraj Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ettiappan Nagar Govindan Street (Ward 29)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total charges Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ettiappan Nagar Govindan Street (Ward 29)?

The Ettiappan Nagar Govindan Street (Ward 29) falls under 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 critical factor in property transactions in Madhavaram. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area. This ensures that the transaction is registered at a value that reflects the current market conditions as per the guidelines set by the Registration Department.

When registering a property, buyers must pay stamp duty based on the higher of the guideline value or the sale price. This process helps maintain transparency in property transactions and ensures that the government receives appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Ettiappan Nagar Govindan Street?

The current guideline value of Ettiappan Nagar Govindan Street (Ward 29) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, which is an 8% increase. The value has seen a significant increase of 49% from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023.

What is the land classification for Ettiappan Nagar Govindan Street?

The land classification for Ettiappan Nagar Govindan Street (Ward 29) is Residential Class III Type - I. This classification is important for understanding the permissible uses of the land.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area, including Ettiappan Nagar Govindan Street.

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty for properties in Madhavaram 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 of Rs 1,300 per sq.ft would incur stamp duty charges based on Rs 13,00,000.