Guideline Value for Guru Raghavendra Samy Colony

Guru Raghavendra Samy Colony guideline value

The current guideline value for Guru Raghavendra Samy Colony is Rs 1,300 per sq.ft, effective from 1 July 2024. This colony is located in Madhavaram village under the Madhavaram Sub Registrar Office (SRO). It falls under the Residential Class III Type - I land classification.

How the guideline value of Guru Raghavendra Samy Colony has changed

The guideline value for Guru Raghavendra Samy Colony has seen significant changes over the years. In the 2017 revision, the value was Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, marking an 8% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 62%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, reflecting a substantial change over that period as well.

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 Guru Raghavendra Samy Colony is below this median.

• Guru Ragavendra Nagar ( Ward No.11 ): Rs 1,300 per sq.ft (2024)
• Gurudev Nagar: Rs 1,300 per sq.ft (2024)
• Gowri Nagar,Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Gowri Nagar (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Gowri Nagar Main Road ( Ward No.24 ): Rs 1,300 per sq.ft (2024)
• Gowri Nagar: Rs 3,000 per sq.ft (2024)

Stamp duty and registration fee for property in Guru Raghavendra Samy Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Guru Raghavendra Samy Colony?

The Guru Raghavendra Samy Colony 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 plays a crucial role in property transactions in Madhavaram. When buying or selling property, the guideline value is used to determine the registration fees and stamp duty that need to be paid. This ensures that the transaction is recorded accurately and legally.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Guru Raghavendra Samy Colony?

The current guideline value of Guru Raghavendra Samy Colony 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 from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in 2024. This reflects an overall increase of 62% from 2017 to 2024.

What are the other streets in Madhavaram with similar guideline values?

Other streets in Madhavaram, such as Guru Ragavendra Nagar, Gurudev Nagar, and several Gowri Nagar variations, also have a guideline value of Rs 1,300 per sq.ft as of 2024.

What is the stamp duty rate for properties in Guru Raghavendra Samy Colony?

The stamp duty rate for properties in Guru Raghavendra Samy Colony is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information about it online.