Guideline Value for Ettiappan Nagar Kanniappan Street (Ward 29)

Ettiappan Nagar Kanniappan Street (Ward 29) guideline value

The current guideline value of Ettiappan Nagar Kanniappan Street (Ward 29) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

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

The guideline value for Ettiappan Nagar Kanniappan Street has seen several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 raised it further to Rs 1,300 per sq.ft, representing an 8% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 62%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Ettiappan Nagar Kanniappan Street's 2024 figure is below this median.

• Ettiappan Nagar Govindan 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 Kanniappan Street (Ward 29)

For a 1,000 sq.ft plot at the current rate, the 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, totaling Rs 1,17,000. It is important to note that 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 Ettiappan Nagar Kanniappan Street (Ward 29)?

The Sub Registrar Office that covers Ettiappan Nagar Kanniappan Street 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 is a crucial factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the official rates set by the government. This value is essential for both buyers and sellers to understand their financial obligations during the registration of property.

Frequently asked questions

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

The current guideline value of Ettiappan Nagar Kanniappan 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 increased from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024. This represents a 62% increase over the seven-year period.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft based on the 2024 figures for various streets in the area.

What are the stamp duty and registration fees based on the guideline value?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For a property valued at Rs 13,00,000, the total fees would amount to Rs 1,17,000.

Where can I find the Sub Registrar Office for Ettiappan Nagar Kanniappan Street?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registrations for properties in the area.