Guideline Value for Francis Colony (Ward-19)

Francis Colony (Ward-19) guideline value

The current guideline value of Francis Colony (Ward-19) is Rs 2,200 per sq.ft, effective from 1 July 2024. This locality is situated in Madhavaram village, under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Francis Colony (Ward-19) has changed

The guideline value of Francis Colony has seen several revisions over the years. In 2012, the guideline value was set at Rs 2,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 1,340 per sq.ft, marking a decrease of 33%. The value increased significantly in the 2023 revision to Rs 2,000 per sq.ft, and then again in 2024 to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%, bringing the value back to Rs 2,000 per sq.ft. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 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. The guideline value for Francis Colony (Ward-19) is above this median.

• Ganapathi Nagar / Ganapathi Siva Nagar: Rs 2,200 per sq.ft (2024)
• Ganapathi Nagar ( Ward No.26 ): Rs 2,200 per sq.ft (2024)
• Ganapathi Thottam (Ward-30): Rs 2,200 per sq.ft (2024)
• E.V.R.St ( Ward No.25 ): Rs 1,300 per sq.ft (2024)
• Ganapathy Nagar 1st st ( Ward No.3 ): Rs 2,200 per sq.ft (2024)
• Evr St, Lakshmipuram (Ward-25): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Francis Colony (Ward-19)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Please note that the 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 details.

Which Sub Registrar Office covers Francis Colony (Ward-19)?

The Sub Registrar Office covering Francis Colony (Ward-19) 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 in determining the stamp duty and registration fees during property transactions in Madhavaram. When buying or selling property, the guideline value serves as a benchmark for calculating the applicable fees, ensuring that the transaction is recorded accurately with the local authorities.

It is important for buyers and sellers to be aware of the guideline value as it impacts the overall cost of the transaction. The registration process relies on these values to maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Francis Colony (Ward-19)?

The current guideline value of Francis Colony (Ward-19) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Francis Colony (Ward-19)?

The land classification for Francis Colony (Ward-19) is Residential Class I Type - I, indicating it is primarily designated for residential use.

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.

How is stamp duty calculated in Francis Colony (Ward-19)?

Stamp duty in Francis Colony 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 stamp duty of Rs 1,54,000.